A technique which minimizes sum of squared vertical difference, to determine the regression line is considered as _____________?
Correct answer: C. least square technique
- A. negative square technique
- B. positive square technique
- C. least square technique
- D. most square technique
Explanation
The least-squares technique selects the regression line that minimizes the sum of squared vertical deviations between actual and estimated values. Squaring prevents positive and negative deviations from cancelling each other.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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