You work for a manufacturing company on a production line that manufactures cell phones. You are paid $20 a day plus $1.50 for each phone that you assemble. Interpret the slope and y-intercept of the equation of the trend line y=1.50x+20.
In the equation y=1.50x+20, the slope (1.50) represents the amount of money earned for each phone that is assembled. This means that for every phone assembled, an additional $1.50 is earned.
The y-intercept (20) represents the base amount of money earned, regardless of the number of phones assembled. In this case, it is $20. This is the amount of money that would be earned even if no phones were assembled in a day.
So, the equation y=1.50x+20 suggests that for each phone assembled, $1.50 is earned, and there is a base earning of $20 even if no phones are assembled.