A consumer's spending is widely believed to be a function of their income. To estimate this relationship, a university p

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A consumer's spending is widely believed to be a function of
their income. To estimate this relationship, a university professor
randomly selected 19 of his students and collected information on
their spending (Y, in dollars) and income (X, in dollars) patterns
in week 6 of the semester. Assuming a linear relationship between Y
and X, the professor used the least-squares method and found that
the Y intercept = 20.90 and the slope = 0.66. Based on this
information, the Y intercept should be interpreted as:
When a student's weekly income equals zero, the mean value of
his/her weekly spending is estimated to be $20.90.
When a
student's weekly income equals zero, the mean
value of his/her weekly spending is estimated to be
$21.56.
When a
student's weekly spending equals zero, the mean
value of his/her weekly income is estimated to be
$20.90.
When a
student's weekly spending equals zero, the mean
value of his/her weekly income is estimated to be
$21.56.