A statistical technique that identifies the line of best fit for the points plotted in a scattergraph is called
A)regression analysis.
B)break-even analysis.
C)high-low method.
D)ERP.

Question

Quizplus · Accepted Answer

Regression analysis is the statistical technique used to identify the line of best fit for the points plotted in a scattergraph. Break-even analysis is a tool used to calculate the minimum amount of sales required to cover all costs. High-low method is a cost analysis technique that uses the highest and lowest data points to estimate the fixed and variable components of a cost. ERP stands for Enterprise Resource Planning software and is a business management software used to manage and integrate a company's various functions and departments.

A Statistical Technique That Identifies the Line of Best Fit