For 10 observations on price (p) and supply (S) the following data were obtained (inappropriate units):Σρ- 130, ES -220, Σp-2,288Σ-5,506, ΣpS-3,467, Ν= 10Obtain the line of regression of S on p and estimate the supply when the price is 16 units, and find outthe standard error of the estimate.

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Answered: For 10 observations on price (p) and…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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For10 observations on supply (X) and price (Y) the following data are obtained ΣΧ-130, ΣΧ-2280, ΣΥ-5506 , ΣΧΥ-3467, ΣΥ-220 Obtain regression line Y on X and estimate supply when price is 16.
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