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One of the Primary Feeds for Beef Cattle Is CornThe Least-Squares Regression Line for Predicting the Ribeye Price from the Following

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Question 8
Multiple Choice
arrowQuestion 8arrow
Multiple Choice

One of the primary feeds for beef cattle is corn. The following table presents the average price in dollars for a bushel of corn and a pound of ribeye steak for 10 consecutive months.
 Corn Price ($/bu) Ribeye Price ($/lb)6.3413.225.9312.066.4513.726.1912.756.5613.275.9412.17\begin{array}{cc}\hline \text { Corn Price }(\$ / \mathrm{bu}) & \text { Ribeye Price }(\$ / \mathrm{lb}) \\\hline 6.34 & 13.22 \\5.93 & 12.06 \\6.45 & 13.72 \\6.19 & 12.75 \\6.56 & 13.27 \\5.94 & 12.17 \\\hline\end{array}
The least-squares regression line for predicting the ribeye price from the corn price is y=1.7478+2.3437xy = - 1.7478 + 2.3437 x .
If the price of corn differs by $0.35\$ 0.35 per bushel, by how much would you expect the price , ribeye to differ?


A) $0.61- \$ 0.61 per lb
B) $0.61\$ 0.61 per lb
C) $0.93\$ 0.93 per lb
D) $0.82\$ 0.82 per lb\mathrm { lb }

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