A large department store has gathered the following monthly data upon lost sales revenue because of theft and the number of security guard hours on duty:
|
Lost Sales
Revenue
($000's)
|
Total Security
Guard hours
|
Lost Sales
Revenue
($000's)
|
Total Security
Guard hours
|
|
1.0
|
600
|
1.8
|
950
|
|
1.4
|
630
|
2.1
|
1300
|
|
1.9
|
1000
|
2.3
|
1350
|
|
2.0
|
1200
|
|
|
(a) Find out the least squares regression equation.
(b) Using the results of part (a), find the estimated lost sales revenues if the total number of security guard hours is 800.
(c) Compute the coefficient of correlation.
(d) Compute the coefficient of determination.