Identify the Components of Simple Linear Regression Models and Discuss

question 3

Multiple Choice

Identify the components of simple linear regression models and discuss their applications
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) . $$\begin{array} { | l | l | } \hline \begin{array} { l } \text { Number } \\\text { of years }\end{array} & \begin{array} { l } \text { Value } \\\text { (\$) }\end{array} \\\hline 78 & 930 \\\hline 91 & 1010 \\\hline 83 & 970 \\\hline 159 & 1950 \\\hline 134 & 1610 \\\hline 210 & 2880 \\\hline 88 & 980 \\\hline 178 & 2010 \\\hline 124 & 1370 \\\hline 72 & 900 \\\hline\end{array}$$
-What is the relationship between the age of the furniture and their values?

• A) Nonlinear
• B) Linear
• C) Curvilinear
• D) No relationship

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Yin And Yang

A concept in Chinese philosophy and medicine representing opposite yet complementary forces that are present in all aspects of life and health.

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A holistic system of health care that has been practiced in China for thousands of years, using methods like acupuncture and herbal medicine.

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