Question

Stay	Length of Stay (LOS)	Total Costs
1	3	$2,613.91
2	10	$8,769.03
3	2	$2,448.60
4	3	$2,568.70
5	3	$1,936.19
6	5	$7,230.71
7	5	$5,342.61
8	3	$4,108.13
9	1	$1,596.91
10	2	$4,061.28
11	2	$1,761.53
12	5	$4,779.19
13	1	$2,078.30
14	3	$4,713.61
15	4	$3,946.68
16	2	$2,902.74
17	1	$1,438.85
18	1	$820.21
19	1	$3,309.41
20	6	$5,476.33
INTERCEPT
Now that you have determined the answer, it is time to provide a 1 or 2 sentence
write up of your answer. In statistics, it is important that you not only get the correct
mathematical answer, but that you become comfortable writing up your results in
a manner that is easily understood by the reader/audience.

Answer 1

Solution:

We can use the excel regression data analysis tool to find the intercept for the given data. Treating Length of stay and total costs as the independent variable and dependent variable respectively. The excel output is given below:

The meaning of intercept means the expected value total cost of stay is $1062.5876 when the length of stay is 0. The intercept in the given modal does not have any practical meaning because when the length of stay is 0, the expected total cost will be 0.