To interpret the slope and y-intercept of the equation \( y = 1.50x + 20 \):
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The slope (1.50) indicates that for every additional phone assembled (unit increase in \( x \)), you earn an additional $1.50. This means that for each phone you assemble, you receive an extra $1.50.
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The y-intercept (20) means that when no phones are assembled (\( x = 0 \)), you still receive $20. This represents the base pay you receive daily, regardless of the number of phones produced.
Based on this interpretation, the correct option is:
The slope means that, for every phone assembled, you receive $1.50. The y-intercept means that you receive $20 a day regardless of the number of phones produced.