The regression analysis below relates average annual per capita beef consumption (in pounds) and the independent variable "average annual beef...

1. The regression analysis below relates average annual per capita beef consumption (in pounds) and the independent variable "average annual beef price" (in dollars per pound). The coefficient on beef price tells us that:a)For every price increase of $1, average beef consumption decreases by 9.31 pounds.b)For every price increase of $1, average beef consumption increases by 9.31 pounds.c) For every price increase $9.31, average beef consumption decreases by 1 pound.d) For price increase of $9.31, average beef consumption increases by 1 pound.2- In a year in which the average price of beef is at $3.51 per pound, we can expect average annual per capita beef consumption to be approximately:a)55.2 poundsb)52.6 poundsc)53.6 poundsd)117.9 pounds