Consider the Following to Answer the Question(s) Below

question 7

Multiple Choice

Consider the following to answer the question(s) below:
To determine whether the tip left at the end of a meal is related to the size of the total bill at their restaurant, Chez Michelle, data were gathered for 10 customers. The data and summary statistics are shown below.

-Which of the following is a correct interpretation for the regression slope coefficient b1?

• A) The average change in y of a one-unit change in x will be b1 units.
• B) For a one-unit change in y, we can expect the value of the independent variable to change by b1 units on average.
• C) For each unit change in x, the dependent variable will change by b1 units.
• D) The average change in x of a one-unit change in y will be b1 units.
• E) The change in y of a one-unit change in x will always be b1 units.

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Definitions:

Unemployment Insurance

A federally mandated program to minimize the hardships of unemployment through payments to unemployed workers, help in finding new jobs, and incentives to stabilize employment.

Voluntary Unemployment

The condition of being without employment by choice, often due to personal reasons rather than external economic conditions.

Sick Leave

Time off provided to employees for illness without loss of pay.