Here are some more interpretations of the regression model to predict the price of wine developed in Exercise 24. One of these interpretations is correct. Which is it? Explain what is wrong with the others.
a) The minimum price for a bottle of wine that has not aged is $6.25.
b) The price for a bottle of wine increases on average about $.55 for each year it ages, after allowing for the effects of tasting score.
c) Each year a bottle of wine ages, its tasting score increases by 1.22.
d) Each dollar increase in the price of wine increases its tasting score by 1.22.

  • CreatedMay 15, 2015
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