The correct statement is:
The equation represents a linear function because it has an independent and a dependent variable, each with an exponent of 1.
Explanation: The equation \(y = 2x - 4\) is in the standard form of a linear equation (y = mx + b), where \(m\) is the slope and \(b\) is the y-intercept. It represents a straight line when graphed, and both the independent variable \(x\) and the dependent variable \(y\) have an exponent of 1, which characterizes linear functions. The points mentioned in the other options do not accurately represent a straight line.