Market researchers were interested in the relationship between the number of pieces in a brick-building set and the

cost of a set. Information was collected from a survey and was used to obtain the regression equation ý = 0.08x +

1.20, where x represents the number of pieces in a set and is the predicted price (in dollars) of a set. Which

statement best describes the meaning of the y-intercept of the regression line?

The y-intercept in a regression equation shows the value of y when x is 0. For this scenario therefore, the y-intercept is the predicted price of a set when the number of pieces in the set is 0. As the y-intercept is 1.20, this means that when there are no pieces in the set, the predicted price is $1.20.

This however is not logical or meaningful because a set cannot have 0 pieces and if it did, it wouldn't make sense for somebody to pay $1.20 for it.

swapnalimalwadeVT swapnalimalwadeVT · Answer 2 · 2022-06-07T07:00:39+02:00

When the number of pieces is 0, the predicted price is $1.20.

This interpretation is not meaningful because a set cannot have 0 pieces.

We have given that,

Market researchers were interested in the relationship between the number of pieces in a brick-building set and the cost of a set.

What is the regression equation?

regression analysis is a set of statistical processes for estimating the relationships between a dependent variable and one or more independent variables.

The y-intercept in a regression equation shows the value of y when x is 0. For this scenario, therefore, the y-intercept is the predicted price of a set when the number of pieces in the set is 0. As the y-intercept is 1.20, this means that when there are no pieces in the set, the predicted price is $1.20.

This however is not logical or meaningful because a set cannot have 0 pieces and if it did, it wouldn't make sense for somebody to pay $1.20 for it.

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