The correct interpretation of the slope and y-intercept of the equation \( y = 1.50x + 20 \) is:
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Slope (1.50): This means that for every phone assembled (where \( x \) represents the number of phones), you receive an additional $1.50. So, if you assemble one more phone, your total earnings increase by $1.50.
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Y-intercept (20): This means that you receive a base pay of $20 per day, regardless of the number of phones produced. This is the amount you earn even if you do not assemble any phones.
Thus, the best response 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.