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)

6.26

13.32

6.00

12.25

5.76

12.53

6.33

13.33

6.46

13.28

6.44

13.01

What is the slope of the regression line for predicting the ribeye price from the corn price? Round to 2 decimal places

1.24603+5.18423x

Question

25-07-2022
Business

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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)

6.26

13.32

6.00

12.25

5.76

12.53

6.33

13.33

6.46

13.28

6.44

13.01

What is the slope of the regression line for predicting the ribeye price from the corn price? Round to 2 decimal places

1.24603+5.18423x

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sakshigupta4990 sakshigupta4990 · Answer 1 · 2022-08-01T09:15:37+02:00

If the price of corn differs by $1 per bushel then the price of ribeye differs by $1.7071.

The price of corn differs by $0.35 per bushel the price of ribeye differs by $1.7071.* 0.35 = 0.595595

= $0.60.

Corned beef is a slice of processed lean meat made by soaking brisket in a solution of salt and spices to season and soften it. Corned beef provides proteins and nutrients such as iron and vitamin B12, but fat. And relatively high in sodium. It is also a source of certain compounds that may increase the risk of cancer.

Corned beef is made from relatively inexpensive parts of brisket. Meat undergoes a long aging process with large grains of rock salt, or "salt grains" and salt water. By simmering it slowly, it transforms hard beef into a very soft and flavorful part.

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