The U.S. Commodities Futures Trading Commission reports on the volume of trading in the U.S. commodity futures exchanges. Shown here are the figures for grain, oilseeds, and livestock products over a period of several years. Use these data to develop a multiple regression model to predict grain futures volume of trading from oilseeds volume and livestock products volume. All figures are given in units of millions. Graph each of these predictors separately with the response variable and use Tukey’s four-quadrant approach to explore possible recoding schemes for nonlinear relationships. Include any of these in the regression model. Comment on theresults.
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