It appears that over the past 45 years, the number of farms in the United States declined
Question:
It appears that over the past 45 years, the number of farms in the United States declined while the average size of farms increased. The following data provided by the U.S. Department of Agriculture show five-year interval data for U.S. farms. Use these data to develop the equation of a regression line to predict the average size of a farm by the number of farms. Discuss the slope and y-intercept of themodel.
Transcribed Image Text:
Year 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 Number of Farms (millions) 5.65 4.65 3.96 3.36 2.95 2.52 2.44 2.29 2.15 2.07 2.17 2.10 Average Size (acres) 213 258 297 340 374 420 426 441 460 469 434
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No of Farms x Avg Size y 565 213 465 258 396 297 336 34...View the full answer
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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