Which of the following describes a method of cost estimation in which a cost line is drawn through a scatter diagram to help the analyst visualise the relationship between cost and activity?

A) Least squares regression
B) High-low
C) Visual fit
D) Multiple regression

Least Squares Regression

A statistical method used to determine a line of best fit by minimizing the sum of squares of the differences between observed and predicted values.

Cost Estimation

The process of predicting the amount of resources, especially financial, required to complete a project or product development within specified constraints.

Scatter Diagram

A graphical representation used to show the relationship between two variables, helping to identify potential correlations.