Regression analysis removes errors in cost estimation associated with changing cost patterns over time, unusual events and random fluctuations.

Question

Quizplus · Accepted Answer

Regression analysis helps in understanding and modeling the relationship between variables, but it does not remove errors; it can only minimize them by explaining variability. Unusual events and random fluctuations may still affect the accuracy of the model.

Regression Analysis Removes Errors in Cost Estimation Associated with Changing