The total expenses of a hospital are related to many factors. Two of these factors...
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Accounting
The total expenses of a hospital are related to many factors. Two of these factors are the number of beds in the hospital and the number of admissions. Data was collected in 14 hospitals, as shown in the following table.
| Hospital | Number of Beds | Admissions(100s) | Total expenses (Millions) |
| 1 | 215 | 77 | 57 |
| 2 | 336 | 160 | 127 |
| 3 | 520 | 230 | 157 |
| 4 | 135 | 43 | 24 |
| 5 | 35 | 9 | 14 |
| 6 | 210 | 155 | 93 |
| 7 | 140 | 53 | 45 |
| 8 | 90 | 6 | 6 |
| 9 | 410 | 159 | 99 |
| 10 | 50 | 18 | 12 |
| 11 | 65 | 16 | 11 |
| 12 | 42 | 29 | 15 |
| 13 | 110 | 28 | 21 |
| 14 | 305 | 98 | 63 |
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Find the best regression model to predict the total expenses of a hospital. Discuss the accuracy of this model. Should both variables be included in the model? Why or why not?
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