We are given the following equations of two straight lines:
1. The line \( \frac{x}{7} + \frac{y}{2} = 1 \), which intersects the \( x \)-axis and \( y \)-axis.
2. The line \( \frac{x}{3} - \frac{y}{5} = 1 \), which also intersects the \( x \)-axis and \( y \)-axis.
These two lines are the axes of the ellipse. To find the eccentricity of the ellipse, we first need to identify the semi-major axis \( a \) and semi-minor axis \( b \) from the intersection points of the ellipse with the coordinate axes.
Step 1: Finding the intercepts
From the first line, \( \frac{x}{7} + \frac{y}{2} = 1 \), the intercepts on the axes are:
- When \( y = 0 \), \( \frac{x}{7} = 1 \) gives \( x = 7 \), so the \( x \)-intercept is \( 7 \).
- When \( x = 0 \), \( \frac{y}{2} = 1 \) gives \( y = 2 \), so the \( y \)-intercept is \( 2 \).
From the second line, \( \frac{x}{3} - \frac{y}{5} = 1 \), the intercepts are:
- When \( y = 0 \), \( \frac{x}{3} = 1 \) gives \( x = 3 \), so the \( x \)-intercept is \( 3 \).
- When \( x = 0 \), \( -\frac{y}{5} = 1 \) gives \( y = -5 \), so the \( y \)-intercept is \( -5 \).
Step 2: Identifying semi-major axis \( a \) and semi-minor axis \( b \)
The equation of the ellipse will have the form:
\[
\frac{x^2}{a^2} + \frac{y^2}{b^2} = 1.
\]
The semi-major axis \( a \) corresponds to the larger of the intercepts, and the semi-minor axis \( b \) corresponds to the smaller intercept.
From the intercepts, the semi-major axis is \( a = 7 \) (since the \( x \)-intercept of 7 is the largest), and the semi-minor axis is \( b = 5 \) (since the \( y \)-intercept of 5 is the largest in magnitude).
Step 3: Calculating the eccentricity
The eccentricity \( e \) of an ellipse is given by:
\[
e = \sqrt{1 - \frac{b^2}{a^2}}.
\]
Substitute \( a = 7 \) and \( b = 5 \):
\[
e = \sqrt{1 - \frac{5^2}{7^2}} = \sqrt{1 - \frac{25}{49}} = \sqrt{\frac{49}{49} - \frac{25}{49}} = \sqrt{\frac{24}{49}} = \frac{\sqrt{24}}{7} = \frac{2\sqrt{6}}{7}.
\]
Thus, the eccentricity of the ellipse is \( \frac{2\sqrt{6}}{7} \), and the correct answer is (b).