1 when the price of natural gas is 371 per mcf an average, Ask an Expert

Economics

1) When the price of natural gas is 3.71 per mcf, an average household uses 4.67 mcf. When the price of natural gas is 4.58, an average household uses 3.52 mcf. Calculate the intercept of the linear function that describes this relationship. The price of natural gas is the independent variable.

2) When the price of natural gas is 3.16 per mcf, an average household uses 4.57 mcf. When the price of natural gas is 4.46, an average household uses 3.8 mcf. Calculate the usage of an average household when the price of natural gas is 3.41. The price of natural gas is the independent variable.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91421167

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