Which of the following are tools the nurse manager can use when developing a budget?
a. High-low cost estimation, regression analysis, and break-even analysis
b. Regression analysis, break-even analysis, and t-test
c. Break-even analysis, high-low cost estimation, and balanced scorecard
d. T-test, balanced scorecard, and regression analysis
A
Budget planning involves developing a formal quantitative plan for acquiring and distributing funds
over a specified period of time by utilizing some means of cost prediction. Tools that are useful to this
process are high-low cost estimation (good for measuring the cost of items that tend to remain
relatively constant), regression analysis (examines all available cost information over a period of
time), and break-even analysis (helps to predict the volume of services that must be provided for the
overhead of these services to be evenly matched by the payment received without either a profit or
loss).
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