Question

The least squares regression line for the cost of a diamond necklace from a department store (y

, in dollars) in the yearx

years since2000

is given byy

=1823+314x

.

Interpret they

-intercept of the least squares regression line.

Select the correct answer below:

The predicted cost of a diamond necklace from the department store is expected to increase$314

per year after the year2000

.

The predicted cost of a diamond necklace from the department store in the year2000

is$1823

.

The predicted cost of a diamond necklace from the department store in the year2000

is$314

.

They

-intercept should not be interpreted.