Which of the following statements related to cost ?estimation methods is true .a O None of the given answers .b O The most complex method of cost .estimation is the high-low method .C The scatter-graph method is used to derive an estimated line of cost behavior by O graphically connecting the two cost amounts identified with the highest and lowest volume .levels d OThe three methods determine a slope and an .intercept e The high-ow method is the most accurate and reliable method to determine the cost behavior compared to scatter-graph plot and least-squares regression methods
Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
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