Final answer:
The equation that describes the number of dollars raised by the students in terms of the number of T-shirts sold is Y = 12x + 150.
Step-by-step explanation:
The equation that describes the number of dollars raised by the students in terms of the number of T-shirts sold is Y = 12x + 150.
Y represents the total number of dollars raised, x represents the number of T-shirts sold, and 12 represents the selling price of each T-shirt. Additionally, the students incur a one-time fee of $150.
Therefore, the correct equation is Y = 12x + 150.