Use the guidelines for writing a report on the course website and use the following questions...

  

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Use the guidelines for writing a report on the course website and use the following questions as a guide Q. 1. Using only the information provided in Exhibit 1, explain why further analysis of physician visits maybe needed. Compare the profitability of hospital and surgical services to physician services, using the allocation of revenue that was given. Show the breakdown of the $260 premium using a column chart. Does the allocation of the $260 per employee per month payment across the types of health care services seem reasonable, given the past two months' utilization? Q.2. The weekly utilization data is provided in the Excel data file on the BUS 302 website. Create scatter plots to show the relationships between the number of employees, number of visits per week, and total physician costs. Calculate visits per employee and the cost per visit for each week. Calculate the mean and standard deviation for these measures for this six-month period. Explain how these statistics are useful in understanding the trend in total outpatient physician costs per Sparks Interactive employee. Q. 3. Regression analysis can be useful to tease out the importance of various factors in explaining costs. a Evaluate the relationship between visits per week and week. Interpret your regression results by discussing the significance of the regression equation and the magnitude of the estimated coefficients b. Evaluate the relationship between cost per visit and week. Interpret your regression results by discussing the significance of the regression equation and the magnitude of the estimated coefficients c. Compare the results from the two regressions and explain how they can be used to help Mr. Green in making his decision. A B Week Total Costs of Physician Visits 1234FCTBa 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 722222 23 24 25 $77,322 $79,177 $74,888 $73,428 $74,535 $75,487 $74,222 $75,499 $76,300 $76,033 $78,832 $79,755 $80,243 $78,993 $81,227 $84,219 $82,177 $82,456 $81,100 $84,211 $90,133 $95.120 $99.865 $97.752 $98.713 # Visits 401 423 404 407 404 432 430 452 457 459 446 481 484 484 491 496 500 450 469 498 495 500 520 505 517 D #Employees Visit/ employee Cost/ Visit 4065 $192.8 4065 $187.2 4062 $185.4 4063 $180.4 4069 $184.5 4070 $174.7 4076 4076 4083 4081 4088 4087 4095 4101 4099 4103 4112 4115 4126 4130 4129 4129 4129 4136 4137 0.099 0,104 0.099 0.100 0.099 0.106 0.105 $172.6 0.111 $167.0 0.112 $167.0 0.112 $165.6 0.109 $176.8 0.118 $165.8 0.118 $165.8 0.118 0.120 0.121 0.122 $164.4 0.109 $183.2 0.114 $172.9 0.121 $169.1 0.120 $182.1 0.121 0.126 0.122 0.125 $163.2 $165.4 $169.8 $190.2 $192.0 $193.6 $190.9 G Use the guidelines for writing a report on the course website and use the following questions as a guide Q. 1. Using only the information provided in Exhibit 1, explain why further analysis of physician visits maybe needed. Compare the profitability of hospital and surgical services to physician services, using the allocation of revenue that was given. Show the breakdown of the $260 premium using a column chart. Does the allocation of the $260 per employee per month payment across the types of health care services seem reasonable, given the past two months' utilization? Q.2. The weekly utilization data is provided in the Excel data file on the BUS 302 website. Create scatter plots to show the relationships between the number of employees, number of visits per week, and total physician costs. Calculate visits per employee and the cost per visit for each week. Calculate the mean and standard deviation for these measures for this six-month period. Explain how these statistics are useful in understanding the trend in total outpatient physician costs per Sparks Interactive employee. Q. 3. Regression analysis can be useful to tease out the importance of various factors in explaining costs. a Evaluate the relationship between visits per week and week. Interpret your regression results by discussing the significance of the regression equation and the magnitude of the estimated coefficients b. Evaluate the relationship between cost per visit and week. Interpret your regression results by discussing the significance of the regression equation and the magnitude of the estimated coefficients c. Compare the results from the two regressions and explain how they can be used to help Mr. Green in making his decision. A B Week Total Costs of Physician Visits 1234FCTBa 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 722222 23 24 25 $77,322 $79,177 $74,888 $73,428 $74,535 $75,487 $74,222 $75,499 $76,300 $76,033 $78,832 $79,755 $80,243 $78,993 $81,227 $84,219 $82,177 $82,456 $81,100 $84,211 $90,133 $95.120 $99.865 $97.752 $98.713 # Visits 401 423 404 407 404 432 430 452 457 459 446 481 484 484 491 496 500 450 469 498 495 500 520 505 517 D #Employees Visit/ employee Cost/ Visit 4065 $192.8 4065 $187.2 4062 $185.4 4063 $180.4 4069 $184.5 4070 $174.7 4076 4076 4083 4081 4088 4087 4095 4101 4099 4103 4112 4115 4126 4130 4129 4129 4129 4136 4137 0.099 0,104 0.099 0.100 0.099 0.106 0.105 $172.6 0.111 $167.0 0.112 $167.0 0.112 $165.6 0.109 $176.8 0.118 $165.8 0.118 $165.8 0.118 0.120 0.121 0.122 $164.4 0.109 $183.2 0.114 $172.9 0.121 $169.1 0.120 $182.1 0.121 0.126 0.122 0.125 $163.2 $165.4 $169.8 $190.2 $192.0 $193.6 $190.9 G

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