The Following Regression Equation Was Found to Model Commute Distance

question 44

Essay

The following regression equation was found to model commute distance (in miles)and number of minor accidents per year for a group of adults.
Minor accidents per year = 1.204 + 0.024(commute distance)
What is the intercept? What is the interpretation of the intercept in this context? Does it make sense to interpret the intercept in this context?

---

Definitions:

Downsloping

Describing a curve or line that moves from a higher to a lower point, often used to illustrate the downward trend in price and quantity relationships in economics.

Marginal Revenue Curve

A graphical representation showing how the revenue from selling one additional unit varies.

Horizontal

A line or direction parallel to the ground or to the bottom edge of a page, representing equality or uniformity in a graphical representation.

Market Price

The current price at which an asset or service can be bought or sold.