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).
$$\begin{array} { | r | r | }
\hline \begin{array} { l }
\text { Number } \
\text { of years }
\end{array} & \begin{array} { l }
\text { Value } \
( \$ )
\end{array} \
\hline 78 & 930 \
\hline 91 & 1010 \
\hline 83 & 970 \
\hline 159 & 1950 \
\hline 134 & 1610 \
\hline 210 & 2880 \
\hline 88 & 980 \
\hline 178 & 2010 \
\hline 124 & 1370 \
\hline 72 & 900 \
\hline
\end{array}$$
-For an independent variable Y, the error associated with the iᵗʰ observation is:

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).
 $$\begin{array} { | r | r | } 
\hline \begin{array} { l } 
\text { Number } \
\text { of years }
\end{array} & \begin{array} { l } 
\text { Value } \
( \$ )
\end{array} \
\hline 78 & 930 \
\hline 91 & 1010 \
\hline 83 & 970 \
\hline 159 & 1950 \
\hline 134 & 1610 \
\hline 210 & 2880 \
\hline 88 & 980 \
\hline 178 & 2010 \
\hline 124 & 1370 \
\hline 72 & 900 \
\hline
\end{array}$$
-For an independent variable Y, the error associated with the iᵗʰ observation is:

Quizplus · Accepted Answer

The error associated with the iᵗʰ observation is typically defined as the difference between the actual value of Y and the predicted value of Y (given by the regression line), which is represented by eᵢ = Yᵢ - Ŷᵢ. Therefore, the best choice is (A).

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