A study was done to investigate the relationship between the amount of money, x, people save during the year and the amount of money, y, people spend dining out that year. The equation of the regression line was found to be:
y = 900 + 50x
The correlation, r, was found to be
r = 0.42
and the P-value for the correlation was 0.23.
A. Interpret the y-intercept in the context of the study.
B. Interpret the slope in the context of the study.
C. Interpret the coefficient of determination, R2 in the context of the study.
D. State the result of the hypothesis test associated with the given P-value in the context of the study.