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Math Help - Cost Benefit

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    Cost Benefit

    I need to create chart showing the correlation between consultation visits and worker compensation claims.

    The x-axis will be time: years divided into quarters and the y-axis will be dollar amounts for claims. What we hope to see is that as the number of visits increase, the total dollar amount in claims will decrease.

    The compensation claim is a dollar amount and the visit is just a count (we do not have the dollar amount for visits)

    Is there a way to meaninfully correlate the plotting of dollar amounts and a count so they are proportional to the y-axis?
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  2. #2
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    Quote Originally Posted by jparram View Post
    I need to create chart showing the correlation between consultation visits and worker compensation claims.

    The x-axis will be time: years divided into quarters and the y-axis will be dollar amounts for claims. What we hope to see is that as the number of visits increase, the total dollar amount in claims will decrease.

    The compensation claim is a dollar amount and the visit is just a count (we do not have the dollar amount for visits)

    Is there a way to meaninfully correlate the plotting of dollar amounts and a count so they are proportional to the y-axis?
    You may define a point in time such that it equals 0 on the x axis. For example put something like "Let January 2009 be t=0" in your sheet and set April 2009 as 0.25, January 2010 as 1 and so on. Of course t=0 is just a given point - you may pick any one you like

    For a correlation a straight line graph is best but we'd need to know either an equation relating the two or experimental data. I suspect you'd like an exponential decay but your decrease could well be linear
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