Cost Accounting Interview Question:

Define simple linear regression analysis?

Submitted by: Murtaza

Simple linear regression analysis is a statistical tool for quantifying the relationship between just one independent variable (hence "simple") and one dependent variable based on past experience (observations). For example, simple linear regression analysis can be used to express how a company's electricity cost (the dependent variable) changes as the company's production machine hours (the independent variable) change.
Submitted by: Murtaza