Question

In a simple regression analysis with age as the only explanatory variable, the effects of other factors, such as faminc, are

Answer 1

In the error term.

Explanation:

A simple linear regression is a regression that has only one explanatory variable. It tries to establish the existing relationship between the variable of interest (dependent variable) and the explanatory variable (independent variable).

Since age is the only explanatory variable, other variables such as faminc would be in the error term. The error term exists because the explanatory variable is never able to on its own to predict the dependent variable perfectly.