Question: Question 1 Use the data to perform a regression analysis in Excel and answer the questions below. Submit a typed solution in MS Word. A)
Question 1 Use the data to perform a regression analysis in Excel and answer the questions below. Submit a typed solution in MS Word. A) Your agency wants to know if increases in a patient's risk score result in higher gross drug costs. Interpret your regression results and the p-value. Provide a practical explanation of your results for senior management. B) Explain what R-squared means in a statistical way and also provide a practical explanation to your senior management of the importance of R-squared from your analysis. Question 2 Use a pivot table in Excel to answer the questions below. Submit a typed solution in MS Word. Copy and paste the relevant results from your Excel analysis. A) Your agency wants to know the average Gross Drug Cost and average Risk Score for birth genders to determine whether birth gender may be related to these measures. B) Explain to senior management what your pivot tables results could indicate and explain if any further analyses would be appropriate. Data descriptions RecordID - A unique ID for each different patient GrossDrugCost - The total amount of drug costs incurred by a member RiskScore - A score assigned by the government based on previous government data indicating how healthy someone is. Higher scores indicate members are less healthy (i.e., more sick). Age - Age at the time of data collection BirthGender - A dummy variable that takes the value of 1 if the member's birth gender is female and 0 if the birth gender is male
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