Final answer:
The values of the independent and dependent quantity in a formula vary together.
Step-by-step explanation:
The statement 'The values of the independent and dependent quantity in a formula vary together' is True. In a mathematical formula, the dependent variable is the one that changes based on the value of the independent variable. When the independent variable changes, the dependent variable also changes accordingly. For example, in the equation y = 2x, y is the dependent variable and x is the independent variable. As x changes, y also changes in a proportional manner.