Which Statement Best Describes the Least Squares (Regression) Method

question 100

Multiple Choice

Which statement best describes the least squares (regression) method?

• A) It is easily done by hand.
• B) It statistically finds a "best fitting" line.
• C) It uses the highest and lowest data point.
• D) It is a graphical way of separating a mixed cost.

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Definitions:

Credit Contract

A legally binding agreement between a borrower and a lender where the borrower is extended a line of credit and agrees to repay the money, subject to agreed terms and conditions.

Garnish Wages

A legal process in which a creditor obtains a court order requiring an employer to withhold a portion of an employee's earnings for the repayment of debt.

Late Charge

A fee assessed for payments made after their due date.

Truth-in-Lending Law

A law at the federal level in the U.S. that aims to encourage the knowledgeable use of consumer credit through mandates on disclosures regarding its terms and expenses.