The following data is given for Soweto Hospital with regards to the number of patients admitted in the first half of the year ended 30 June 2023 and the total costs incurred by the hospital to treat these patients in this period: Month Number of patients admitted Total costs incurred by the hospital (Rands) January 200 50 000 February 200 50 000 March 250 55 000 April 250 55 000 May 300 60 000 June 150 45 000 Required: Calculate the variable cost per unit and total fixed costs by using the Least Squares (Simple Regression Analysis) method.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 25PPS
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The following data is given for Soweto Hospital with regards to the number of patients admitted in the first half of the year ended 30 June 2023 and the total costs incurred by the hospital to treat these patients in this period:
Month
Number of patients admitted
Total costs incurred by the hospital (Rands)
January
200
50 000
February
200
50 000
March
250
55 000
April
250
55 000
May
300
60 000
June
150
45 000
Required:
Calculate the variable cost per unit and total fixed costs by using the Least Squares (Simple Regression Analysis) method.

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