Q1. If the variable is almost normally distributed does that mean you use common distribution?
"Use the data set; noting which cultivated area is variable is nearly normally distributed. What is the probability that the area of a crop is selected at random is less than 6 acres is there a specific formula i have to use?
Q2. If the demand curve for wheat in the US is P=12.4 - Q (here Q is quantity demanded)
and the supply curve for wheat is P= 2.6 + 2Q( here Q is quantity supplied)
Illustrate what is the equilibrium price of wheat?
Illustrate what is the equilibrium quantity of wheat sold (actual price equal the equilibrium)?