The correct interpretation of the slope and y-intercept of the equation \(y = 1.50x + 20\) is as follows:
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The slope (1.50) means that for every additional phone assembled (each unit increase in \(x\)), your total pay increases by $1.50. So, if you assemble 1 more phone, your pay increases by $1.50.
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The y-intercept (20) means that you receive $20 a day as a base pay, regardless of the number of phones produced. This is the amount you earn even if you assemble zero phones.
Therefore, the response that correctly interprets the slope and y-intercept 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.