*Need help with C multiple choice bolded*

The value of a sports franchise is directly related to the amount of revenue that a franchise can generate. The accompanying data table gives the value and the annual revenue for 15 major sport teams. Suppose you want to develop a simple linear regression model to predict franchise value based on annual revenue generated. Complete parts(a) through(e) below.

Annual_Revenue_(millions_of_dollars) Franchise_Value_(millions_of_dollars)

238 557

211 573

212 537

181 398

156 166

227 628

190 452

214 547

203 536

186 488

156 241

208 413

275 823

271 843

243 570

Your answer is correct.

b. Use theleast-squares method to determine the regression coefficients b0 and b1.

b0

=

negative 485.92

485.92

b1

=

4.53

4.53

(Round to two decimal places asneeded.)

c. Interpret the meaning of b0 and b1 in this problem. Choose the correct answer below.

A.

TheY-intercept, b0, implies when the annual revenue iszero, the franchise value is b0, in millions dollars. Theslope, b1, implies the revenue is equal to b1, in millions of dollars.

B.

An interpretation of theY-intercept, b0, is not meaningful because no sports franchise is going to have a revenue of zero. Theslope, b1, implies that for each increase of 1 million dollars in annualrevenue, the franchise value is expected to increase by b1, in millions of dollars.

C.

TheY-intercept, b0, implies that if the annual revenue iszero, the franchise value is equal to the value of b0, in millions of dollars. Theslope, b1, implies that the average franchise value is equal to b1, in millions of dollars.

D.

TheY-intercept, b0, implies that if the annual revenue iszero, the franchise value is equal b0, in millions of dollars. Theslope, b1, implies that for each increase of 1 million dollars in annualrevenue, the franchise value is expected to decrease by b1, in millions of dollars