The correct interpretation of the slope and y-intercept in the equation \( y = 1.50x + 20 \) is:
- The slope (1.50) means that for every phone assembled (not 1.50 phones), you receive an additional $1.50. This indicates how much your daily earnings increase with each additional phone produced.
- The y-intercept (20) means that you receive $20 a day regardless of the number of phones produced. This is your base pay for the day.
So, the best interpretation from the options given is:
The y-intercept means that you receive $20 a day regardless of the number of phones produced.
(Note: The other options contain incorrect interpretations of the slope and y-intercept.)