Refer to the information provided in Table 21.2 below to answer the questions that follow.
Table 21.2
The data in the table was used to estimate the following consumption function: C = 12 + 0.4Y.
-Refer to Table 21.2. The error for point A is equal to

Question

Refer to the information provided in Table 21.2 below to answer the questions that follow.
Table 21.2
  The data in the table was used to estimate the following consumption function: C = 12 + 0.4Y.
-Refer to Table 21.2. The error for point A is equal to

Quizplus · Accepted Answer

The error for a point is calculated as the actual value minus the predicted value. If the actual value is higher than the predicted value, the error is positive. If the actual value is lower than the predicted value, the error is negative. Without the specific values from Table 21.2, the correct answer cannot be determined from the provided information. However, based on the choices given, if we assume point A's actual value is higher than its predicted value by 2, the error would be +2.

Refer to the Information Provided in Table 21