The following table exhibits the age of antique furniture and the corresponding prices.Use the table to answer the following question(s).(Hint: Use scatter diagram and the Excel Trendline tool where necessary).
$$\begin{array} { | r | r | }
\hline \begin{array} { l }
\text { Number } \
\text { of years }
\end{array} & \begin{array} { l }
\text { Value } \
( \$ )
\end{array} \
\hline 78 & 930 \
\hline 91 & 1010 \
\hline 83 & 970 \
\hline 159 & 1950 \
\hline 134 & 1610 \
\hline 210 & 2880 \
\hline 88 & 980 \
\hline 178 & 2010 \
\hline 124 & 1370 \
\hline 72 & 900 \
\hline
\end{array}$$
-In a linear relationship, which of the following accounts for the many possible values of the dependent variable that vary around the mean?

Question

The following table exhibits the age of antique furniture and the corresponding prices.Use the table to answer the following question(s).(Hint: Use scatter diagram and the Excel Trendline tool where necessary).
 $$\begin{array} { | r | r | } 
\hline \begin{array} { l } 
\text { Number } \
\text { of years }
\end{array} & \begin{array} { l } 
\text { Value } \
( \$ )
\end{array} \
\hline 78 & 930 \
\hline 91 & 1010 \
\hline 83 & 970 \
\hline 159 & 1950 \
\hline 134 & 1610 \
\hline 210 & 2880 \
\hline 88 & 980 \
\hline 178 & 2010 \
\hline 124 & 1370 \
\hline 72 & 900 \
\hline
\end{array}$$
-In a linear relationship, which of the following accounts for the many possible values of the dependent variable that vary around the mean?

Quizplus · Accepted Answer

In a linear relationship, the random error term (ε) accounts for the many possible values of the dependent variable that vary around the mean. This means that even with a perfectly fitted line, there will still be variation in the dependent variable that cannot be explained by the independent variable. The other answer choices (A - coefficient of X, B - intercept ß₀, and D - standard error S_YX) do not account for the random variation in the dependent variable.

The Following Table Exhibits the Age of Antique Furniture and the Corresponding