Use the Following Regression Equation Regarding Car Mileage for Following

question 22

Multiple Choice

Use the following regression equation regarding car mileage for following questions . Note that City is the estimated miles per gallon (mpg) a car gets while driving on city streets, and
Highway is the estimated miles per gallon (mpg) a car gets while driving on highways.
-Interpret the slope in the context of the data.

• A)The slope is 0.892.For every additional mpg a car gets in the city, its highway mpg is predicted to increase by 0.892.
• B)The slope is 1.337.For every additional mpg a car gets in the city, its highway mpg is predicted to increase by 1.337.
• C)The slope is 0.892.If a car gets 0 mpg in the city, it will get 0.892 mpg on the highway.
• D)The slope is 1.337.If a car gets 0 mpg in the city, it will get 1.337 mpg on the highway.

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Definitions:

Income

The amount of money received over a period of time either as payment for work, goods, or services, or through investments.

Interest Forgone

The potential interest one could have earned on their money if it had been invested rather than spent or kept in a non-interest-bearing account.

MC (Marginal Cost)

The additional cost resulting from the production of one more unit of a product or service.

ATC (Average Total Cost)

The total cost of production divided by the quantity of output produced, representing the per-unit cost of production.