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

Straight line method spreads an asset's cost evenly over its life, aiding in clear financial planning. Using this method simplifies financial statements, making a company's health easier to assess.

If a number or measurement has been rounded, it can be important to consider what possible values the exact value could have been. For example, if a kitchen unit is 600 mm wide to the nearest 10 mm, ...