Question 4. Regression (12 marks) 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 1=0.8 a) What is the least squares regression equation(y-hat=atbx)? (5 points). b) For a hospital with 120 FTEs, use the equation above to predict the estimated number of open beds. (5 points). c) What fraction of the variation in number of open beds is explained by the number of FTEs? (2 points)