Find a linear regression model for the price-supply data where x is supply (in billions of bushels) and y is price (in dollars). y= (Type an equation using x as the variable. Round to two decimal places as needed.) Find a linear regression model for the price-demand data where x is demand (in billions of bushels) and y is price (in dollars). (Type an equation using x as the variable. Round to two decimal places as needed.) Find the equilibrium price for corn Select the correct choice below and fill in any answer boxes present in your choice. O A. y=S (Round the final answer to two decimal places as needed. Round all intermediate values to two decimal places as needed.) O B. There is no solution able contains price-supply data and price-demand data for corn. Find a linear regression model for the price-supply data where x is supply (in billions of els) and y is price (in dollars). Do the same for the price-demand data. Find the equilibrium price for con. Price (S/bu) 2. 16 Supply (billion bu) 6.41 7.36 7.68 7.87 Price (S/ bu) Demand (billion bu) 9.86 9.48 8.42 8.13 7.88 6.92 2.05 2.29 2.12 2.39 2.46 2.44 2.55 2.27 2.33 2.34 2.42 8.12 8.37

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Find a linear regression model for the price-supply data where x is supply (in billions of bushels) and y is price (in dollars).
y=
(Type an equation using x as the variable. Round to two decimal places as needed.)
Find a linear regression model for the price-demand data where x is demand (in billions of bushels) and y is price (in dollars).
(Type an equation using x as the variable. Round to two decimal places as needed.)
Find the equilibrium price for corn Select the correct choice below and fill in any answer boxes present in your choice.
O A. y=S
(Round the final answer to two decimal places as needed. Round all intermediate values to two decimal places as needed.)
O B. There is no solution
Transcribed Image Text:Find a linear regression model for the price-supply data where x is supply (in billions of bushels) and y is price (in dollars). y= (Type an equation using x as the variable. Round to two decimal places as needed.) Find a linear regression model for the price-demand data where x is demand (in billions of bushels) and y is price (in dollars). (Type an equation using x as the variable. Round to two decimal places as needed.) Find the equilibrium price for corn Select the correct choice below and fill in any answer boxes present in your choice. O A. y=S (Round the final answer to two decimal places as needed. Round all intermediate values to two decimal places as needed.) O B. There is no solution
able contains price-supply data and price-demand data for corn. Find a linear regression model for the price-supply data where x is supply (in billions of
els) and y is price (in dollars). Do the same for the price-demand data. Find the equilibrium price for con.
Price (S/bu)
2. 16
Supply (billion bu)
6.41
7.36
7.68
7.87
Price (S/ bu)
Demand (billion bu)
9.86
9.48
8.42
8.13
7.88
6.92
2.05
2.29
2.12
2.39
2.46
2.44
2.55
2.27
2.33
2.34
2.42
8.12
8.37
Transcribed Image Text:able contains price-supply data and price-demand data for corn. Find a linear regression model for the price-supply data where x is supply (in billions of els) and y is price (in dollars). Do the same for the price-demand data. Find the equilibrium price for con. Price (S/bu) 2. 16 Supply (billion bu) 6.41 7.36 7.68 7.87 Price (S/ bu) Demand (billion bu) 9.86 9.48 8.42 8.13 7.88 6.92 2.05 2.29 2.12 2.39 2.46 2.44 2.55 2.27 2.33 2.34 2.42 8.12 8.37
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