The regression equation given is 21000 = 333.33X. Let's interpret the slope and intercept:
1. Interpretation of the slope:
The slope of the regression equation represents the rate of change between the independent variable (X) and the dependent variable (y). In this case, the slope is 333.33.
Since the equation is 21000 = 333.33X, it means that for every one unit increase in X, the dependent variable (y) increases by 333.33. This suggests a positive relationship between X and y. So, as X increases, y is expected to increase by 333.33.
2. Interpretation of the intercept:
The intercept of the regression equation represents the value of the dependent variable (y) when the independent variable (X) is zero. In this case, the intercept is 21000.
Therefore, when X is zero, the predicted value of y is 21000. This indicates that even without any X input, the dependent variable (y) is estimated to have a value of 21000.
It's important to note that these interpretations are based on the given regression equation. However, without more context or information about the specific variables involved, it is challenging to provide a more precise interpretation or determine the real-world meaning of the slope and intercept.