Final answer:
The medullary cavity is the hollow region in the diaphysis of a bone, filled with yellow marrow that serves as a source of energy. Meanwhile, the red marrow, found in the spongy bone, produces blood cells through the process of hematopoiesis.
Step-by-step explanation:
The hollow part of the bone where marrow is stored is known as the medullary cavity. This cavity is the central area of a bone's diaphysis and is filled primarily with yellow marrow. The yellow marrow consists of adipose tissue which stores triglycerides and can serve as a source of energy.
In addition to yellow marrow, bones also contain red marrow, which is found in areas such as the head of the femur and in the spongy bone of flat bones. The function of red marrow is hematopoiesis, which is the production of blood cells including red blood cells, white blood cells, and platelets.
During the modeling process of bone growth, bone tissue is continuously being resorbed on one surface and deposited on another. This process allows the bone to grow in size and change shape as needed. In children and adolescents, an area called the epiphyseal plate is responsible for lengthening of the bone, which is gradually replaced by bone tissue as they mature into adults.