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Q3 : 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: Lost Sales Revenue ($000s) Total Security Guard hours Lost Sales Revenue ($000s) 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) Determine the least squares regression equation from the results, and write it down. (b) Using the results of part (a), find the estimated lost sales revenues if the total number of security guard hours is 800. (c) What do the acronyms SST, SSR, and SSE stand for? How are these related to one another through a fundamental equation of the Least Squares methodology? Calculate the coefficient of determination through this equation using the values of these parameters provided to you in the computer printout of the results, and confirm that this is equal to the value of r 2 provided in the same results. (d) Using the information in (c) above, compute the coefficient of correlation. Is it positive or
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