Consider the Following to Answer the Question(s) Below

question 27

Multiple Choice

Consider the following to answer the question(s) below:
To determine whether the cash bonuses paid by Johnson Financial Group are related to annual pay, data were gathered for 10 account executives who received such bonuses in 2007. The data, scatterplot and summary statistics are shown below.

-The intercept of the estimated regression line that relates the response variable (cash bonus) to the predictor variable (annual pay) is

• A) 0.409
• B) -16945
• C) 0.54
• D) 3.45
• E) none of the above

---

Definitions:

Labor Supply

The complete count of hours that individuals in the workforce are willing to contribute and can work, at a determined rate of remuneration.

Labor Demand

Labor demand represents the total amount of workers that employers are willing and able to hire at a given wage rate in a particular market.

Price Floors

Regulations establishing the minimum price that can be charged for a good or service, aimed at ensuring fair compensation for producers or as part of wage control policies.

Buyers

Buyers are individuals or entities that purchase goods or services in a market.