Overview
Compare the following information between teaching and non-teaching hospitals using a t-test:
What are the main significant differences between teaching and non-teaching hospitals? (use t-test)
Comparing hospital net-benefit, which hospitals had better performance? (To answer this question, first compute the hospital net benefits by subtracting hospital costs from revenues, then use a t-test to compare the significant differences between teaching and non-teaching hospitals).
- Use a box-plot to compare hospital-cost and hospital-revenues between teaching and non-teaching hospitals. Make sure to attach the plotted information.
- Write a short paragraph describing your findings highlighting their importance for managerial decision-making. List a specific managerial function and the way the processed data can be used to meet the managerial objectives.