Which of the Following Is the Method Statisticians Use to Draw

question 76

Multiple Choice

Which of the following is the method statisticians use to draw the best fitting straight line through the data on a scatter diagram?

• A)The fit best method.
• B)The least squares method.
• C)The point-intercept method.
• D)None of these choices.

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Definitions:

Expected Value

The average of all possible outcomes of a random variable, weighted by their respective probabilities.

Economic Assumptions

Hypotheses about the future economic condition that are used for planning and budgeting purposes.

Level of Expansion

Refers to the scale and scope of growth activities undertaken by a company to increase its business operations.

Z Score

A value's relationship to the mean of a series of values is depicted as being a certain number of standard deviations away from the average.