Which of the Following Is Characteristic for the Method of Least

question 148

Multiple Choice

Which of the following is characteristic for the method of least squares?

• A)It uses the results of regression analysis to construct a cost formula.
• B)It is less accurate than the scattergraph method.
• C)It analyzes a cost relationship by graphing the data points.
• D)It can easily be calculated without a calculator.

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Definitions:

Caste System

A traditional form of social stratification based on heredity, primarily found in India, classifying people into rigid hierarchical groups based on their occupation and birth.

Hierarchical System

A structured organization of positions or levels in which entities are ranked one above the other based on authority or status.

Genetic Variation

The diversity of gene frequencies within a population, which contributes to differences in physical, physiological, and behavioral attributes.

Traditionally Defined

Characterized or specified according to historical or long-established patterns, norms, or interpretations.