1. Which of the following is a disadavantage fo the least squares method? a.) It is relatively simple to use b.) It produces more accurate estimates c) It considers all data points d) It may be costly to use 2. Product costs may be expensed in a later period a) TRUE b.) FALSE 3. Pick the option in increasing order of reliability a) Least squares, high-low method and scattergraph b.) Least squares, scattergraph and high-low method c) high-low method, scattergraph and least squares d.) high-low method, least squares and scattergraph 4. costs that increase as the volume activity increases within the relevant range: a) variable cost per unit b.) average fixed cost per unit c) total fixed cost d) total variable costs 5. Weaknesses of the high-low method include all of the following except a) the highest and lowest activity might not be representative of the population b.) only two activities/observations are used to develop the estimates c) this method cannot estimate the total costs if there are more than one variables d.) this involves complex mathematical calculations