Question: A healthcare executive is using multiple linear regression model to predict total revenues. She has decided to include both patient length of stay and insurance

A healthcare executive is using multiple linear regression model to predict total revenues. She has decided to include both patient length of stay and insurance type in her model. Patient length of stay is measured in days. Insurance type is grouped into the following six categories: Medicare, Medicaid, Managed care, HMO, Self-Pay, and Charity. How many parameters should be included in the multiple linear regression model?

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