A real estate magazine reported the results of a regression analysis designed to predict the price (y), measured in dollars, of residential properties recently sold in a northern Virginia subdivision. One independent variable used to predict sale price is GLA, gross living area (x), measured in square feet. Data for 157 properties were used to fit the model, = [Math Processing Error]

The results of the simple linear regression are provided below. = [Math Processing Error]
Interpret the estimate of [Math Processing Error], the y-intercept of the line.