2. For 10 observations on price (p) and supply (S) the following data were obtained (in appropriate units) : Σρ- 130, Σ S= 220, Σp*= 2.288 , Σ S* = 5,506 , Σ pS-3,467, N= 10. Obtain the line of regression of S on pand estimate the supply when the price is 16 units, and find out the standard error of the estimate. %3D

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2. For 10 observations on price (p) and supply (S) the following data were
obtained (in appropriate units) :
Σp= 130, Σ S= 220, Σp* = 2,288 ;Σ S* = 5,506 , Σ pS- 3,467, N 10.
Obtain the line of regression of S on pand estimate the supply when the price is 16 units, and
find out the standard error of the estimate.
2
Transcribed Image Text:2. For 10 observations on price (p) and supply (S) the following data were obtained (in appropriate units) : Σp= 130, Σ S= 220, Σp* = 2,288 ;Σ S* = 5,506 , Σ pS- 3,467, N 10. Obtain the line of regression of S on pand estimate the supply when the price is 16 units, and find out the standard error of the estimate. 2
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