Asked by
Duangkaew Aiamsuwan
on Nov 12, 2024
Verified
The scattergraph method yields cost estimates that are the most precise possible.
Scattergraph Method
A graphical technique used to identify the relationship between two variables, often used in cost analysis to distinguish between fixed and variable costs.
Cost Estimates
Approximations of the cost to complete a project, manufacture a product, or provide a service, based on available information.
- Understand and apply different methods (scattergraph, high-low, least-squares regression) for estimating costs.
Verified Answer
MC
Learning Objectives
- Understand and apply different methods (scattergraph, high-low, least-squares regression) for estimating costs.