The Larger the Vertical Difference Between Actual Costs and Predicted

question 133

True/False

The larger the vertical difference between actual costs and predicted costs the better the goodness of fit.

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Definitions:

Data Value

A specific measurement or piece of information that is collected for analysis.

Dot Plot

A statistical chart consisting of data points plotted on a simple scale, each dot representing a value.

Axis

A reference line used in graphs and charts to indicate values of variables.

Stem-and-Leaf Display

A graphical method of displaying quantitative data to show its shape and distribution, combining aspects of a histogram and scatter plot.