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The table contains price-supply data and price-demand data for corn. Find a linear Find a linear regression model for the price-supply data where x is
The table contains price-supply data and price-demand data for corn. Find a linear Find a linear regression model for the price-supply data where x is supply (in billions regression model for the price-supply data where x is supply (in billions of bushels) and y is of bushels) and y is price (in dollars). price (in dollars). Do the same for the price-demand data. Find the equilibrium price for corn. Price ($ / bu) Supply (billion bu) Price ($ / bu) y = 0 Demand (billion bu) 2. 16 6.34 (Type an equation using x as the variable. Round to two decimal places as needed.) 2.09 9.93 2.23 7.37 2.13 9.49 2.31 7.57 2.24 8.37 2.42 7.98 2.38 8.13 2.42 8.22 2.39 7.85 2.58 8.29 2.49 7.02
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