The total amount of money given out in scholarship fee up to the summer of year 2000 is 2450 thousand dollars which is also the intercept of the model.
The actual regression equation for the total amount money, A given out is : A = 2450 + 740s
- s = number of scholarships given out after the summer of thr year 2000
The total amount given out in scholarship up to the summer of the year 2000 will will the value of A in the regression equation when s = 0
Inputting s = 0 in the equation :
A = 2450 + 740(0)
A = 2450
Therefore, the total amount of money giving out for scholarship upto the summer of year 2000 is 2450 thousand dollars.
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