The least-squares regression method generally is considered the most accurate method for approximating a linear cost relationship.

Question

Quizplus · Accepted Answer

The least-squares regression method is considered the most accurate for approximating a linear cost relationship because it minimizes the sum of the squares of the differences between the observed values and the values predicted by the model, providing the best fit line through the data points.

The Least-Squares Regression Method Generally Is Considered the Most Accurate