Cost Prediction

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Definitions
Cost Prediction
Cost Prediction Forecasting Linear Regression Cost Behavior Budgeting Decision Making Strategic Planning Statistics
Cost prediction involves forecasting future cost levels based on historical cost behavior using various statistical techniques, such as linear regression, to inform budgeting, decision-making, and strategic planning.
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Definitions
High-Low Method
High-Low Method Cost Prediction Cost Behavior Activity Levels Cost Analysis Linear Approximation Financial Modeling
A technique used for predicting cost behavior by analyzing the highest and lowest activity levels in a dataset to create a cost function. Though simple, it lacks mathematical rigor and precision.
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