True or False: a Least Squares Linear Trend Line Is

question 13

True/False

True or False: A least squares linear trend line is just a simple regression line with the years
recoded.

---

Definitions:

Standards

Predetermined benchmarks or norms used for measuring performance and setting expectations in various contexts, including production, quality, and accounting.

Budgets

Financial plans that forecast future income, expenditure, and resource allocation, guiding organizational decision-making.

Overhead Volume Variance

A measure used in cost accounting to analyze the difference between the budgeted and actual volume of activity, influencing the fixed manufacturing overhead.

Standard Hours

The set number of hours that are expected to be worked, often used in manufacturing to estimate labor costs.