Answer:
Option C) The symbol y represents the predicted value of price.
Step-by-step explanation:
We are given the following in the question:
We find a regression equation with x representing the ratings and y representing price.
The equation has a slope of 130 and a y-intercept of 350.
Comparing with the slope intercept form:
Thus, we can write the equation as:
Here, y is the predicted variable that is the price, c is the price of hotel when a rating of 0 is given.
Thus, symbol y represents:
C) The symbol y represents the predicted value of price.