A visual line fit to points in a scatter diagram may be used to identify the approximate relation between past cost and volume.

Question

Quizplus · Accepted Answer

A visual line fit, also known as a trend line, can help identify the approximate relationship between variables in a scatterplot, including past cost and volume. The line represents the general trend or pattern of the data points, which can be useful in forecasting future costs based on expected volume.

A Visual Line Fit to Points in a Scatter Diagram