Introduction to Data Analytics in Business Final Test Solutions
Course Introduction
This course introduces students to the fundamental concepts and techniques of data analytics as applied in the business context. Students will learn how organizations collect, process, analyze, and interpret data to support decision-making and gain competitive advantage. The curriculum covers key topics such as data collection methods, data cleaning, descriptive and inferential statistics, data visualization, and the use of analytical tools and software. Real-world business case studies are used to demonstrate how analytical insights drive strategic and operational decisions. By the end of the course, students will be able to understand and communicate data-driven findings, and apply basic analytical methods to solve business problems.
Recommended Textbook
Data Analytics for Accounting 1st Edition by Vernon Richardson
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8 Chapters
415 Verified Questions
415 Flashcards
Source URL: https://quizplus.com/study-set/2645
2
Chapter 1: Data Analytics in Accounting and Business
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55 Verified Questions
55 Flashcards
Source URL: https://quizplus.com/quiz/52774
Sample Questions
Q1) Which approach to data analytics attempts to assign each unit (or individual)in a population into a few categories?
A) Similarity matching.
B) Classification.
C) Data reduction.
D) Regression
Answer: B
Q2) Which of the following best describes the data analytics skill of descriptive data analysis?
A) recognize what is meant by data quality, be it completeness, reliability or validity
B) perform basic analysis to understand the quality of the underlying data and its ability to address the business question
C) demonstrate ability to sort, rearrange, merge, and reconfigure data in a manner that allows enhanced analysis
D) comprehend the process needed to clean and prepare the data before analysis
Answer: B
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3
Chapter 2: Data Preparation and Cleaning
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55 Verified Questions
55 Flashcards
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Sample Questions
Q1) Comparing the number of records within the data is an example of which of the following?
A) Validating the data for completeness
B) Validating the data for integrity
C) Cleaning the data
D) Obtaining the data
Answer: A
Q2) If the extraction and transformation steps have been done correctly,the loading part of the ETL process should be the simplest step.
A)True
B)False
Answer: True
Q3) A foreign key is an attribute that is required to exist in each table of a relational database and serves as the unique identifier for each record in a table.
A)True
B)False
Answer: False
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Chapter 3: Modeling and Evaluation: Going From Defining
Business Problems and Data Understanding to Analyzing
Data and Answering Questions
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55 Verified Questions
55 Flashcards
Source URL: https://quizplus.com/quiz/52772
Sample Questions
Q1) Data profiling typically involves unstructured data.
A)True
B)False
Answer: False
Q2) ________ mark the split between one class and another.
A) Decision trees
B) Identifying questions
C) Decision boundaries
D) Linear classifiers
Answer: C
Q3) Co-occurrence grouping is an example of a supervised approach.
A)True
B)False
Answer: False
Q4) A decision tree can be used to divide data into smaller groups.
A)True
B)False
Answer: True
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Chapter 4: Visualizations: Using Visualizations and
Summaries to Share Results
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/52771
Sample Questions
Q1) Letter grades of A,B,and C would be best described as an example of:
A) Nominal data
B) Ordinal data
C) Ratio data
D) Interval data
Q2) Which of the following is not an example of continuous data?
A) Meters swam in 25 minutes
B) Miles run in 25 minutes
C) Free throws made in 25 minutes
D) Laps biked in 25 minutes
Q3) The standard normal distribution has 1 for its mean,median,and mode.
A)True
B)False
Q4) ________ are the product of wanting to present findings to an audience.
A) Declarative visualizations
B) Static visualizations
C) Exploratory visualizations
D) Interactive visualizations
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Chapter 5: The Modern Audit and Continuous Auditing
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/52770
Sample Questions
Q1) Which of the following describes an example of a flat file:
A) ensures that all of its divisions and subsidiaries use a uniform installation of the chosen ERP system
B) allows all divisions and subsidiaries use the ERP system that works best for each location
C) provides a single table of data with user-defined attributes that is stored separate from any application
D) maps the various tables and fields from multiple ERP systems
Q2) Systems translator software maps the various tables and fields from varied EMR systems into a consistent format.
A)True
B)False
Q3) Which Accounting Data Standards ledger identifies data needed for purchase orders,goods received,invoices,payments,and adjustments to accounts?
A) Base Standard
B) General Ledger Standards
C) Procure to Pay Subledger Standard
D) Inventory Subledger Standard
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Chapter 6: Audit Data Analytics
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50 Verified Questions
50 Flashcards
Source URL: https://quizplus.com/quiz/52769
Sample Questions
Q1) Which testing approach is useful in determining procedures to follow when new credit accounts are opened?
A) Applied statistics
B) Regression
C) Fuzzy matching
D) Classification
Q2) Prescriptive analytics identifies a course of action for the auditor to take based on the actions taken in similar situations in the past.
A)True
B)False
Q3) Which of the following statements is true?
A) Monetary unit sampling is more likely to pull accounts with small balances.
B) Monetary unit sampling allows auditors to evaluate account balances.
C) Prescriptive analytics attempts to find hidden patterns or variables.
D) Predictive analytics uses machine learning and artificial intelligence.
Q4) Sampling is useful when you have manual audit procedures,such as testing transaction details or evaluating source documents.
A)True
B)False
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Chapter 7: Generating Key Performance Indicators
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50 Verified Questions
50 Flashcards
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Sample Questions
Q1) A ________ is a calculation measuring how an organization is performing,particularly when that measure is compared to a baseline.
A) balanced scorecard
B) digital dashboard
C) key performance indicator
D) performance metric
Q2) Energy consumption is which of the following types of KPI?
A) Employee performance
B) Operational
C) Environmental and social sustainability
D) Financial performance
Q3) Operating expense ratio is which of the following types of KPI?
A) Employee performance
B) Operational
C) Marketing
D) Financial performance
Q4) Financial performance KPIs include net profit,net profit margin,and gross profit margin.
A)True
B)False
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Chapter 8: Using Financial Statement Data
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50 Verified Questions
50 Flashcards
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Sample Questions
Q1) Inventory turnover ratio is an example of which type of ratio?
A) solvency ratio
B) profitability ratio
C) liquidity ratio
D) activity ratio
Q2) Profit margin is an example of which type of ratio?
A) solvency ratio
B) profitability ratio
C) liquidity ratio
D) activity ratio
Q3) Return on assets is an example of which type of ratio?
A) solvency ratio
B) profitability ratio
C) liquidity ratio
D) activity ratio
Q4) The two types of standardized financial accounting are IFRS and U.S.GAAP.
A)True
B)False
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