What Are the Two Commonly Used Methods for Classifying Accounts

question 126

Multiple Choice

What are the two commonly used methods for classifying accounts?

• A) Single-factor analysis and ABC analysis
• B) Single-factor analysis and portfolio analysis
• C) Sales volume analysis and potential volume analysis
• D) Potential sales analysis and Most Likely Sales (MLS) analysis
• E) Most Likely Sales (MLS) analysis and Least Likely Sales (LLS) analysis

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Definitions:

Least Squares

A mathematical method used to find the best-fitting line through a set of points by minimizing the sum of the squares of the distances from the points to the line.

Regression Line

A straight line that best fits the data points on a scatter plot, showing the relationship between two variables.

Models

Replicas or systems that represent, simulate, or describe complex phenomena for the purpose of analysis or prediction.

Model Significant

Refers to the degree to which a statistical model's parameters are meaningful and impactful for understanding the data.