Refer to the Information Provided in Table 22 The Data in the Table Was Used to Estimate the Answer

question 32

Multiple Choice

Refer to the information provided in Table 22.2 below to answer the question(s) that follow.
Table 22.2
$$\begin{array} { | c | c | c | } \hline \text { Point } & \begin{array} { c } \text { Aggregate } \\\text { Income } ( Y ) \end{array} & \begin{array} { l } \text { Aggregate } \\\text { Consumption } ( C ) \end{array} \\\hline \boldsymbol { A } & 10 & 14 \\\hline B & 20 & 23 \\\hline C & 30 & 25 \\\hline D & 40 & 26 \\\hline E & 50 & 34 \\\hline F & 60 & 39 \\\hline\end{array}$$ The data in the table was used to estimate the following consumption function: C = 12 + 0.4Y
-Refer to Table 22.2. The SUM that is calculated from all the error points from the table is equal to

• A) -5.
• B) +13.
• C) +25.
• D) +31.

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Definitions:

Whole

A term often used in mathematics and statistics to represent an entire data set or population.

Portion

A part of a whole, often expressed as a fraction or percentage.

Statistical Inference

The process of drawing conclusions about populations or scientific truths from data, typically involving methods such as hypothesis testing and estimation.

Business Majors

Students or graduates who have specialized in business studies in college or university.