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Discuss in detail what an outlier is and explain how it can be a...

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Accounting

  1. Discuss in detail what an outlier is and explain how it can be a disadvantage of using the High-Low method.
  2. The CEO of Keechen & Moore has heard about some firms using regression analysis (method of least squares) to estimate costs. Briefly explain the regression method and discuss its main advantage relative to the High-Low method.

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