Question: The table contains price-supply data and rice-demand data for corn. Find a linear regression model for the price-supply data where x is supply (in
The table contains price-supply data and rice-demand data for corn. Find a linear regression model for the price-supply data where x is supply (in illions of bushels) and y is price (in dollars). Do the ame for the price-demand data. Find the equilibrium rice 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). y= (Type an equation using x as the variable. Round to two decimal places as needed.) Price Supply Price ($/bu) (billion bu) ($/bu) Demand (billion bu) 2.14 6.37 2.06 9.94 2.24 7.43 2.12 9.43 2.37 7.55 2.27 8.37 2.48 7.85 2.33 8.11 2.47 8.13 2.31 7.89 2.56 8.28 2.41 6.93
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