Competencies In this project, you will demonstrate your mastery of the following competencies:
: Use descriptive statistics for business analysis Perform regression analysis to address an authentic problem Apply statistics in the business environment
Overview You have been hired as a consultant by a large hospital chain. As part of its
The firm presented the management team with two options:
Open a small facility of 900--1,000 beds Open a medium-sized facility of 3,000-4,000 beds
The hospital's vice president of operations and finance has tasked you with doing an in-depth analysis to determine which of the two options will be the
provided you with a data set that contains data about admissions, personnel, and hospital beds, and attributes of the data such as outpatient visits, births total expense, and census information.
Prompt
Part 1: Data Analysis Workbook
Analyze the data from the provided Hospital Data Set (linked below) and identify current and future trends and patterns in operations
1. Descriptive Analysis: Open a new Excel file and title it Data Analysis Workbook. In the workbook, create a sheet titled P1 Descriptive Analysis. Present descriptive statistics (mean, median, standard deviation, and range) in a table for four attributes from the data set.
2. Analyze the current hospital data to identify trends and patterns in hospital admissions and costs.
a. Admission Trends and Charts: Create a sheet titled P1 Admission Trends in your Data Analysis Workbook. Then, create two pie charts and two column/bar charts. For Pie Chart #1: One slice should be labeled Admissions. Choose another attribute for the second slice. For Pie Chart #2, both slices can be attributes of your choice. ii. For the two column/bar charts: Ensure that one column is titled Admissions for both charts. Choose a different attribute for the other column. b. Expense Trends and Charts: Create a sheet titled P1_Expense Trends in your Data Analysis Workbook. Then, create two column charts and two line charts. For the two column/bar charts: Ensure that one column is titled Expense for both charts. Choose a different attribute for the other column. ii. For Line Chart #1, one of the lines should represent Expense; choose another attribute for the second line. For Line Chart #2, both lines can represent attributes of your choice.
3. Outliers: ldentify any outliers that you see and explain how they have an impact on the overall admission and expense trends. Outliers are the data points that can have an impact on your averages and basic descriptive analysis
4. Identify future trends and attributes that impact expenses and admissions by adding new sheets to your Data Analysis Workbook per the descriptions below. a. Perform two bivariate regressions to provide recommendations I. For the first bivariate regression, the dependent variable should be Total Expense. Choose an independent variable from one of the remaining attributes. ii. Create a sheet titled P2_1st Bivariate_Regression in your Data Analysis Workbook. iii. For the second bivariate regression, the dependent variable should be Admissions. Choose an independent variable from one of t