The method of least squares
A) uses the results of regression analysis to construct a cost formula.
B) is the least accurate method.
C) analyzes a cost relationship by plotting the data points on a graph.
D) can easily be calculated by hand.

Question

Quizplus · Accepted Answer

The method of least squares uses the results of regression analysis to construct a cost formula. It is a commonly used statistical method to find the best fit line or curve for a set of data points, minimizing the sum of the squares of the differences between the predicted values and the actual values.

The Method of Least Squares