For the years between 1990 and 2009, the regression equation yˆ=0.15x+3.95 models the minimum wage, where x is the number of years after 1990.
Which statement is the best interpretation of the slope? Which statement is the best interpretation of the y-intercept? Select both correct responses.
Question 3 options:
The minimum wage increased by $0.15 per year.
The minimum wage in 1990 was $4.10.
The minimum wage increased by $0.15 every 4 years.
The minimum wage in 2000 was $3.95.
The minimum wage in 1990 was $0.15.
The minimum wage increased by $3.95 per year.
The minimum wage in 1990 was $3.95.
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