Which of the following accurately represents the differences between the high-low method and the regression method to estimate cost functions? 1. Unlike regression, the high-low method only takes into account two data points which may not be fully representative of the overall dataset when estimating the cost function. 2. Unlike regression, the high-low method cannot be used when there is more than one cost driver. 3. Unlike regression, the high-low method cannot be used to estimate the cost function that has both a fixed cost and variable cost component. Statement 1 only Statement 2 only Statement 3 only Statement 1 and 2 only Statement 1, 2 and 3