One of the Primary Feeds for Beef Cattle Is Corn

question 26

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

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

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