The Method of Least Squares

question 28

Multiple Choice

The method of least squares

• A) is a way to find the "best fitting" line through a set of data points.
• B) is a statistical way of separating a mixed cost.
• C) always produces the same cost formula when used on the same data set.
• D) all of these are correct

Recognize strategies for managing demand variability and improving supply chain flexibility.

Understand the supply chain decision-making framework and its impact on supply chain performance.

Calculate and interpret basic mathematical operations relevant to financial and operational aspects of supply chain management.

Describe the role and importance of supply chain drivers in enhancing supply chain performance.

---

Definitions:

Statute of Frauds

A legal principle that requires certain types of contracts to be executed in writing and signed by the party to be charged.

Promissory Estoppel

The legal enforcement of an otherwise unenforceable contract due to a party’s detrimental reliance on the contract.

English Rule

A legal principle where the losing party in a lawsuit is required to pay the winning party's legal costs.

American Rule

A legal principle stating that each party in a lawsuit typically pays their own attorney's fees, regardless of who wins.