Please Define the Following Key Terms

question 61

Short Answer

Please define the following key terms.
-darughachi

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Definitions:

Regression Line

A statistical tool used to describe the relationship between a dependent variable and one or more independent variables, often represented as a straight line in linear regression.

Scattergraph

A graphical representation that displays the relationship between two variables, often used in statistics and data analysis.

High-Low Method

A technique used in cost accounting to determine the variable and fixed components of a company's cost structure by analyzing the highest and lowest levels of activity.

Variable Costs

Costs that change in proportion to the level of activity or volume of production in a company, such as raw materials and labor costs.