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

question 38

Multiple Choice

The following table exhibits the age of antique furniture and the corresponding prices. Use the table to answer the following questions) . Hint: Use scatter diagram and the Excel Trendline tool where necessary) . $$\begin{array} { | r | r | } \hline\begin{array} { l } \text { Number } \\\text { of years }\end{array} & \begin{array} { l } \text { Value } \\\$\end{array} \\\hline 79 & 930 \\\hline 91 & 1010 \\\hline 83 & 970 \\\hline 159 & 1950 \\\hline 134 & 1610 \\\hline 210 & 2880 \\\hline 89 & 980 \\\hline 178 & 2010 \\\hline 124 & 1370 \\\hline 72 & 900 \\\hline\end{array}$$
-Which of the following is true of linear functions used in predictive analytical models?

• A) It is used when the rate of change in a variable decreases or increases quickly and then levels out.
• B) It is used when there is a steady decrease or increase over a range of a variable.
• C) It is used when there is increase at a specific rate.
• D) It is used when there is a rise or fall at a constantly increasing rate.

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Definitions:

Business Plan

A detailed document outlining the strategy, goals, financials, and marketing efforts for a business venture.

Calculating Figures Conservatively

Estimating numbers or financial data in a cautious manner, often underestimating to avoid overstatement or risk.

Budgets

Financial plans that outline expected income and expenses over a specified period, guiding spending and resource allocation decisions.

Proposal

A formal suggestion or plan put forward for consideration or discussion by others.