Multiple Choice
Which of the following is an advantage of using the method of least squares rather than the high-low method?
A) It can be calculated without a calculator.
B) Two points are used to develop the cost function.
C) For a given set of data, it will always produce the same cost formulae.
D) The outlying observations have no effect on the cost function when the calculations are complete.
Correct Answer:
Verified
Correct Answer:
Verified
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