An expert consultant in hospital resource planning states that the number of open beds that a hospital can use effectively should be estimated by the number of FTEs (full-time equivalent employees) on staff. The consultant collected data on the number of open beds and number of FTEs for 12 hospitals, and computed the means and SDs as follows:

y: number of open beds: Mean = 50 SD =10 x: number of FTEs: Mean =100 SD = 40 Coefficient r=0.8

a) What is the least squares regression equation(y-hat=a+bx)? . b) For a hospital with 120 FTEs, use the equation above to predict the estimated number of open beds. . c) What fraction of the variation in number of open beds is explained by the number of FTEs?