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. The least-squares regression line for predicting the ribeye price from the corn price is y = 6.3662 + 1.0315x.
If the price of corn differs by $0.15 per bushel, by how much would you expect the price of ribeye to Differ?
A) $6.52 per lb
B) -$0.95 per lb
C) $0.15 per lb
D) $0.95 per lb
Correct Answer:
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