In the equation \( y = 1.50x + 20 \):
- The slope (1.50) represents the amount of additional money earned for each phone assembled. Specifically, it means that for every phone assembled, you earn an additional $1.50.
- The y-intercept (20) represents the base amount earned regardless of the number of phones produced. This means you receive $20 a day simply for being on the job, independent of any phone assembly.
Given this interpretation, the correct 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.