A "conjecture" is a conclusion reached simply from observations...this is a process known as "inductive reasoning". An example would be a weather forecast.
The difference between "inductive reasoning" and "deductive reasoning" is that with deductive reasoning, the answer must "necessarily" follow from a set of premises. Inductive reasoning is the process by which you make a mathematical "hypothesis" given a set of observations
Generalization !
An empirical conclusion.
A theory is the result of many, many tests and observations.
What conclusion can be reached by the data shown on the graph?
It is probably "jumping to a conclusion". There is nothing in the question about any analysis, or validation of hypotheses.
Conjecture
Is a conclusion about observations FROM an experiment? yes...
Generalization !
An empirical conclusion.
A conclusion drawn from observations.
It would be a conclusion.
theory
Passage conclusion
A theory is the result of many, many tests and observations.
What conclusion can be reached by the data shown on the graph?
It is the cell theory
Conjecture.