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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
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 Revenues | Total Security Guard Hours |
$1,000 | 600 |
$1,400 | 630 |
$1,900 | 1,000 |
$2,000 | 1,200 |
$1,800 | 950 |
$2,100 | 1,300 |
$2,300 | 1,350 |
Determine the least squares regression equation for predicting lost sales revenues based upon total security guard hours, assuming a 95% level of confidence.
Y = 1.902X + 899.545 |
Y = 1.402X+ 377.988 |
Y = 0.902X- 143.569 |
Y = 0.195X + 202.894 |
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