You Are Interested in Examining the Factors That Determine the Average

question 22

Essay

You are interested in examining the factors that determine the average length of stay by patients in hospitals across states.You collect data on the following variables:
Y = statewide average hospital stay
X₁ = median state income
X₂ = 1 if the state is in the Northeast,0 otherwise
X₃ = 1 if the state is in the South,0 otherwise
X₄ = 1 the state is in the Midwest,0 otherwise
X₅ = 1 the state is in the West,0 otherwise
Based on the data above,you run the following regression: Y = β₀ + β₁X₁ + β₂X₂ + β₃X₃ + β₄X₄.
Identify the length of stay for each of the four regions using the population slopes.

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Definitions:

Cash Flow

The total amount of money being transferred in and out of a business, especially as affecting liquidity.

Debt-to-Income Ratio

A financial metric that compares an individual's total monthly debt payments to their gross monthly income.

Annual Salary

The total amount of money an employee earns in one year before taxes and deductions.

Cash Flow

Cash Flow represents the total amount of money being transferred in and out of a business, indicating its liquidity, financial health, and ability to cover expenses.