Readiness Check: Modeling and Analysis of Bivariate Data Question 3 A phone company charges for service according to the formula: \( C=10+0.05 n \), where \( n \) is the number of minutes talked, and \( C \) is the monthly charge, in dollars. (a) The slope in this equation is: (b) The slope's units are: Minutes Dollars Minutes per Dollar Dollars per Minute (c) The vertical intercept in this equation is:

The formula \( C=10+0.05 n \) reveals that the slope, which is the coefficient of \( n \), is 0.05. This means for every additional minute talked, the monthly charge increases by 5 cents! The slope's units are Dollars per Minute. This signifies that for each minute of talk time, you incur an additional cost of $0.05, illustrating how talking on the phone can be both valuable and pricey! As for the vertical intercept, it’s 10, which represents the base charge of $10 that you pay for the service, regardless of the minutes used. Think of it as the “hello” fee for just having the service!