give the supply and demand quantities (in thousands) of a product for selected prices.

From the table complete the problems below.

price ($)	Quantity Demanded (thousands)	Supply Demanded (thousands)
50	210	0
60	190	40
70	170	80
80	150	120
100	110	200

1) Use regression to find the linear equation that shows the demand in relation of price (i.e. d = mx+b, where x is the price).

2) Use regression to find the linear equation that shows the supply in relation of price (i.e. s = mx+b, where x is the price).

3) Find the market equilibrium price and corresponding number of units supplied/demanded (i.e. find where d = s). Explain how you arrived at your answer and interpret your solution.