Refer to the Information Provided in Table 7

question 132

Multiple Choice

Refer to the information provided in Table 7.3 below to answer the questions that follow.
Table 7.3

-Refer to Table 7.3.Suppose 2010 is the base year.The price index in 2010 is

• A)1,000.
• B)100.
• C)10.
• D)1.

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Definitions:

Slope

In mathematics, the rate at which a line inclines or declines, indicating the steepness of the line.

Regression Line

A straight line that describes how a response variable Y changes as an explanatory variable X changes, used in linear regression.

Least Squares Regression Line

A straight line that minimizes the sum of the squared differences between the observed values and the values predicted by the line.

Estimated Value

An approximation of a quantity based on available information or statistical methods.