For 10 observations on price (x) and supply (y), the following data was obtained:
∑x = 130, ∑y = 220, ∑ x2 = 2288, ∑y2 = 5506 and ∑ xy = 3467.
What is the line of regression of y on x?1
y = 0.91x + 8.74
2
y = 1.02x + 8.74
3
y = 1/02x – 7.02
4
y = 091x – 7.02