Question: The following cost formula was developed using monthly data for a hospital. Total cost = $51,400 + ($125 Number of patient days) The term

The following cost formula was developed using monthly data for a hospital.

Total cost = $51,400 + ($125 × Number of patient days)

The term ‘‘Number of patient days’’
a. is the variable rate.
b. is the intercept.
c. is the dependent variable.
d. is the independent variable.
e. cannot be determined from the above formula.

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