A large department store has collected the following monthly data on lost sales revenue due to theft and the number of security guard hours on duty: (a) Determine 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) Calculate the coefficient of correlation.
(d) Calculate the coefficient of determination.

Question

A large department store has collected the following monthly data on lost sales revenue due to theft and the number of security guard hours on duty:  (a) Determine 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) Calculate the coefficient of correlation.
(d) Calculate the coefficient of determination.

Quizplus · Accepted Answer

The Answer of A large department store has collected the following monthly data on lost sales revenue due to theft and the number of security guard hours on duty:  (a) Determine 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) Calculate the coefficient of correlation.
(d) Calculate the coefficient of determination.

A Large Department Store Has Collected the Following Monthly Data