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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

Question 12
Multiple Choice
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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)6.3512.876.2013.305.8211.856.1812.646.0012.296.5714.16\begin{array}{cc}\hline \text { Corn Price }(\$ / \mathrm{bu}) & \text { Ribeye Price }(\$ / \mathrm{lb}) \\\hline 6.35 & 12.87 \\6.20 & 13.30 \\5.82 & 11.85 \\6.18 & 12.64 \\6.00 & 12.29 \\6.57 & 14.16 \\\hline\end{array}
The least-squares regression line for predicting the ribeye price from the corn price is y=4.8904+2.8678xy = - 4.8904 + 2.8678 x .
Predict the ribeye price in a month when the corn price was $6.40\$ 6.40 per bushel.

A) $12.79\$ 12.79 per lb
B) $15.30\$ 15.30 per lb\mathrm { lb }
C) $18.35\$ 18.35 per lb\mathrm { lb }
D) $13.46\$ 13.46 per lb

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