Question

The linear regression equation p=509 -9.50m gives the predicted price p of a particular style of television m months after the style first became available. What is the meaning of the P-Intercept? A. The original price of the television was about $9.50. B. The original price of the television was about $509.00. C. The price of the television decreases by about $9.50 each month. D. The price of the television Increases by about $509.00 each month.

Answer 1

Answer:

B. The original price of the television was about $509.00.

Explanation:

The linear regression equation is given as:

$p=509-9.50m$

The p-intercept is the value of p when m=0.

When m=0

p=509-9.50(0)

p=$509

Therefore, we conclude that the original price of the television was about $509.00.

The correct choice is B.