The table contains price dash supply

price-supply data andprice dash demand

price-demand data for corn. Find a linear regression model for the price dash supply

price-supply data where x is supply(in billions ofbushels) and y is price(in dollars). Do the same for the price dash demand

price-demand data. Find the equilibrium price for corn.

Price left parenthesis $ divided by bu right parenthesis

($/bu)

Supply left parenthesis billion bu right parenthesis

(billionbu)

Price left parenthesis $ divided by bu right parenthesis

($/bu)

Demand left parenthesis billion bu right parenthesis

(billionbu)

2.12

2.12

6.43

6.43

2.02

2.02

9.76

9.76

2.25

2.25

7.27

7.27

2.13

2.13

9.27

9.27

2.35

2.35

7.74

7.74

2.26

2.26

8.38

8.38

2.48

2.48

7.79

7.79

2.31

2.31

8.01

8.01

2.41

2.41

8.14

8.14

2.37

2.37

7.94

7.94

2.53

2.53

8.27

8.27

2.41

2.41

6.98