Which of the following is correct about R-squared?   1. R-squared measures the goodness-of-fit of the estimated model. 2. R-squared is measured as the ratio of sum squared residuals to total sum of squares. 3. R-squared ranges between -1 to +1. 4. R-squared is measured as one minus the ratio of explained sum of squares to total sum of squares.

q11-

The data for this question is given in the file 1.Q1.xlsx(see image)  and it refers to data for some cities X1 = total overall reported crime rate per 1 million residents X3 = annual police funding in $/resident X7 = % of people 25 years+ with at least 4 years of college   (a) Estimate a regression with X1 as the dependent variable and X3 and X7 as the independent variables. (b) Will additional education help to reduce total overall crime (lead to a statistically significant reduction in crime)? Please explain. (c) Will an increase in funding for the police departments help reduce total overall crime (lead to a statistically significant reduction in total overall crime)? Please explain. (d) If you were asked to recommend a policy to reduce crime, then, based only on the above regression results, would you choose to invest in education (local schools) or in additional funding for the police? Please explain.

please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly