The equation y = 30x + 40 represents the line of best fit showing ted’s earnings in terms of the number of hours he works as a plumber. if x is the number of hours he works and y is ted’s earnings, which statement describes this situation correctly? ted’s initial charge is $30, and his hourly charge is $40. ted’s initial charge is $40, and his hourly charge is $30. ted does not charge an initial amount, and his hourly charge is $40. ted does not charge an initial amount, and his hourly charge is $70.

 Ted’s initial charge is $40, and his hourly charge is $30.

Step-by-step explanation:

We know that the general equation of a line in intercept form is given by :-

, where m is the slope of the line and c represents the y-intercept of the function.

The given function :-The equation represents the line of best fit showing Ted’s earnings in terms of the number of hours he works as a plumber.

Here, Slope =30

The y-intercept = 40

If x is the number of hours he works and y is Ted’s earnings.

Then by comparing the general equation of line in intercept form,  the initial amount charged by Ted =y-intercept = $ 40

His hourly charge = Slope = $ 30