A graph plotted with dots or some other symbol at each data point. Also called a "scatter plot" or "dot chart." THIS DEFINITION IS FOR PERSONAL USE ONLY. All other reproduction requires permission.

When businesses produce a product, they encounter both fixed and variable costs. While fixed costs remain the same regardless of the number of products produced, variable costs change. To determine ...

A line of best fit is drawn on the scatter diagram. It is drawn so that the points are evenly distributed on either side of the line. There are various methods for drawing this 'precisely' but you ...