Mathematics, 26.02.2021 21:10, samueldfhung

Market researchers were interested in the relationship between the price of bobbleheads and the demand of bobbleheads. Information was collected from a survey and was used to obtain the regression equation ý =- 0.227x + 50.455, where x represents the price of a bobblehead (measured in dollars) and ŷ is the predicted demand of bobbleheads (in units). Which statement best describes the meaning of the y-intercept of the regression line? 1. When the demand for bobbleheads is 0 units, the predicted price is $0.

2. When the demand for bobbleheads is 0 units, the predicted price is $50.455.

3. When the price of a bobblehead is $0, the predicted demand is 50.455 units. This interpretation is not meaningful because a bobblehead cannot have a price of $0.

4. When the price of a bobblehead is $0, the predicted demand is 0.227 units. This interpretation is not meaningful because a bobblehead cannot have a price of $0.

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Market researchers were interested in the relationship between the price of bobbleheads and the dema...