Multiple Choice QuestionA statistical method of identifying cost behavior that is computed using spreadsheet programs or calculators is:Multiple choice question.scatter diagramsthe high-low methodleast-squares regression
Question
Multiple Choice QuestionA statistical method of identifying cost behavior that is computed using spreadsheet programs or calculators is:Multiple choice question.scatter diagramsthe high-low methodleast-squares regression
Solution
The correct answer is "least-squares regression". This is a statistical method used to determine a line of best fit by minimizing the sum of squares created by a mathematical function. A "least squares" method is most commonly used in regression analysis to approximate the solution of overdetermined systems.
Similar Questions
A statistical method for identifying cost behavior is the:Multiple ChoiceHigh-low method.Least-squares regression method.CVP charting method.Composite method.Scatter diagram method.
Multiple Select QuestionSelect all that applyThe three methods used to classify costs into their fixed and variable components includesMultiple select question.scatter diagramshigh-low methodregressionvariable-fixed methodmost-squares regression
Fill in the Blank QuestionFill in the blank question.A statistical method for identifying cost behavior is called .
Multiple Choice QuestionWhen preparing a scatter diagram, the estimated line of cost behavior is drawn on a scatter diagram to show the relation between:Multiple choice question.cost and unit volumevariable and fixed costslowest and highest point of activityfixed cost and unit volume
Multiple Choice QuestionA price-setter company will use more:Multiple choice question.target pricing methodscost-plus pricing methodstarget costing methods
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.