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    Class Assignment 1 For Business Analytics

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    Bandita Parida
    This document outlines a class assignment asking students to analyze data from a hospital Excel file to answer questions about the relationship between patient body weight and treatment cost. Students are asked to use statistical tests to determine if weight and cost are related, interpret regression results, and calculate confidence intervals and probabilities related to predicting treatment costs based on patient weight.

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    Class Assignment 1 For Business Analytics

    Uploaded by

    Bandita Parida
    183 views5 pages
    This document outlines a class assignment asking students to analyze data from a hospital Excel file to answer questions about the relationship between patient body weight and treatment cost. Students are asked to use statistical tests to determine if weight and cost are related, interpret regression results, and calculate confidence intervals and probabilities related to predicting treatment costs based on patient weight.

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    This document outlines a class assignment asking students to analyze data from a hospital Excel file to answer questions about the relationship between patient body weight and treatment cost. Students are asked to use statistical tests to determine if weight and cost are related, interpret regression results, and calculate confidence intervals and probabilities related to predicting treatment costs based on patient weight.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    183 views5 pages

    Class Assignment 1 For Business Analytics

    Uploaded by

    Bandita Parida
    This document outlines a class assignment asking students to analyze data from a hospital Excel file to answer questions about the relationship between patient body weight and treatment cost. Students are asked to use statistical tests to determine if weight and cost are related, interpret regression results, and calculate confidence intervals and probabilities related to predicting treatment costs based on patient weight.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 5

    Class Assignment ( Weightage:10 Marks for Final Grade)

    Dr. Kunal K. Ghosh


    DAD Hospital

    • Use the data on body weight of patients and their treatment cost
    provided in the data file “DAD Hospital Data.xlsx” and answer the
    following questions:
    • You may use EXCEL or SPSS package for the analysis. SPSS can be
    downloaded from Internet as a free trial package for 15 days.
    • The data set is attached as a separate EXCEL file.
    • Is there a statistical evidence to support that the cost of treatment and
    body weight are related? Support your answer with all necessary tests.
    DAD Hospital

    • Comment on the value of R-square. Does a low R-square value


    indicate that the model is not useful?
    • Interpret the value of the coefficient of weight in the model
    developed in the first question
    • What will be average difference in cost of treatment for patient aged
    50 and patient aged 51?
    DAD Hospital

    • Is it possible to conclude that a patient weighing 50 kg is likely to


    spend at least INR 500 more than the one weighing 49 kg at 90%
    confidence level?
    • At the time of admission, a patient’s body weight is 50 kg. At 95%
    confidence level, what will be the maximum cost of treatment for this
    patient?
    • For a patient weighing 50 kg, what is the 95% confidence interval for
    the average cost of treatment?
    DAD Hospital

    • DAD hospital is planning to introduce package price for the treatment


    and they would like to charge INR 3,00,000 for the patients weighing
    50 kg. That is, the patient is charged INR 3,00,000 irrespective of the
    actual treatment cost.
    What is the probability that the treatment cost is likely to exceed the
    package price?

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