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. Fi (im y = (T Price ($/ bu) Supply (billion bu) 2.19 2.22 2.36 Price ($/ bu) TTT Demand (billion bu) 9.78 ne 6.26 2.03 7.35 2.11 9.34 7.68 2.24 8.44 7.81 8.09 7.84 2.46 2.36 2.47 8.23 2.31 2,58 8.29 2,44 6.98
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. Fi (im y = (T Price ($/ bu) Supply (billion bu) 2.19 2.22 2.36 Price ($/ bu) TTT Demand (billion bu) 9.78 ne 6.26 2.03 7.35 2.11 9.34 7.68 2.24 8.44 7.81 8.09 7.84 2.46 2.36 2.47 8.23 2.31 2,58 8.29 2,44 6.98
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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Transcribed Image Text: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.
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 ($/ bu) Supply (billion bu)
Price ($ / bu)
Demand (billion bu)
2.19
6.26
2.03
9.78
2.22
7.35
2.11
9.34
2.36
7.68
2.24
8.44
2.46
7.81
2.36
8.09
2.47
8.23
2.31
7.84
2.58
8.29
2.44
6.98
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