Final answer:
A collection of values organized under a single name is called an Array, which differs from a single-value variable. Arrays store multiple values each at a specific index, functioning as a list-like structure in programming, whereas variables represent a single quantity that can vary.
Step-by-step explanation:
A collection of values organized under a single name is known as a C) Array. Unlike a variable, which typically holds a single value, an array can store multiple values, each accessible by index. For instance, in programming, if you want to keep track of the scores of several students in a class, you would use an array, with each index of the array representing a different student's score.
In contrast, variables such as x and y in an algebraic equation like the equation of a line, represent a single quantity that can assume a range of values. These variables are often used to represent data points on a graph, where x is placed on the horizontal axis and y on the vertical axis. Variables can be either numerical or categorical, with numerical variables representing data like weight or time, and categorical variables classifying data into groups, like political affiliation.