The table 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 bushels) and y is price (in dollars). Do the same for the price-demand data. Find the equilibrium price for corn. Supply (billion bu) Price ($/bu) 2.16 Price ($/bu) 2.03 6.45 Demand (billion bu) 9.85 9.46 2.24 7.27 2.15 2.37 7.67 2.22 8.33 2.43 7.87 2.31 8.21 2.45 8.19 2.38 7.85 2.59 8.27 2.49 6.89 Find a linear regression model for the price-supply data where x is supply (in billions of bushels) 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 bushe and y is price (in dollars). y=0 (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. OA. y=s (Round the final answer to two decimal places as needed. Round all intermediate values two decimal places as needed.) OB. There is no solution.

The table 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 bushels) and y is price (in dollars). Do the same for the price-demand data. Find the equilibrium price for corn. Supply (billion bu) Price ($/bu) 2.16 Price ($/bu) 2.03 6.45 Demand (billion bu) 9.85 9.46 2.24 7.27 2.15 2.37 7.67 2.22 8.33 2.43 7.87 2.31 8.21 2.45 8.19 2.38 7.85 2.59 8.27 2.49 6.89 Find a linear regression model for the price-supply data where x is supply (in billions of bushels) 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 bushe and y is price (in dollars). y=0 (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. OA. y=s (Round the final answer to two decimal places as needed. Round all intermediate values two decimal places as needed.) OB. There is no solution.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter3: Straight Lines And Linear Functions

Section3.CR: Chapter Review Exercises

Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...

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