Quiz - Exam 3

Which type of chart is best to describe exam results for a class?

Histogram

Which of the following best represents the virtuous cycle of machine learning?

Input customer purchase data→Learn pattern→Predict future purchases

Blockchain was built to minimize the use of:

Intermediaries

Which of the following would not help create a appropriate question in the AMPS model? Narrowing the scope of the question. Ensuring the data has integrity. Knowledge of business processes. Making the statement succinct.

Knowledge of business processes.

Which type of chart is best to show a persons' weight over time?

Line chart

Which type of chart would best show outbreaks of the flu by region?

Map

Which of the following is the best description of neural networks?

Mathematical models than convert inputs to outputs/predictions

Tableau can source data from all of the following except?

Microsoft Power Point

The use of data analytics will likely result in significant changes to clients' expectations of their auditors. Which of the following is most likely not one of those expected changes?

More time spent gathering and testing data

What type of tables does Excel use to create data visualization?

Pivot Tables

What Microsoft tool would most likely be used to create a complex visualization using a large amount of data?

Power BI

Which type of analysis assists with defining how to optimize performance based on a potential constraint?

Prescriptive

Which type of blockchain would an accounting department of a large international firm set up to track control testing?

Private

Which type of blockchain offers economic reward for the computational proof of work in mining?

Public

Which one of the following is not an example of machine learning assisting in an audit?

Reviewing organization charts

To be considered blockchain a technology must have all of the following except

Rewardability.

When an accounting team automates account reconciliation this is an example of:

Robotic process automation

What is the first step to get data when using Tableau?

Select File>New

What is the first step to prepare Excel data?

Select insert>Table

Which of the following is an activity performed as part of data visualization? Creating a value chain Selecting the data visualization tool Asking the data visualization tool Asking the appropriate questions Addressing privacy concerns

Selecting the data visualization tool

When a bank has an input file of FICO scores and uses machine learning to help predict credit losses for each customer, they are likely using which type of learning?

Supervised learning

, Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities are referred to as big data.

T

. Data analytics are likely to play a significant role in future audit activities

T

A benefit of blockchain is the lowered cost of processing transactions.

T

A common step in preparing data for visualization is setting relationships among tables

T

A use case for blockchain may exist wherever there is a significant cross-organization workflow

T

Artificial neural networks are the engines of machine learning

T

Data analytics are likely to play a significant role in future audit activities.

T

Data visualization must create or reinforce knowledge.

T

Data visualizations must create or reinforce knowledge

T

Datasets that are too large and complex for businesses' existing systems utilizing traditional capabilities are refered to as big data

T

Excel supports data presentation.

T

Smart contracts may be an opportunity for auditors as they contain business rules.

T

The cost of a false prediction is important to data analysts

T

What must first be added to the page when creating a visualization in Power BI?

Table

Which visualization tool creates dashboards and stories?

Tableau

How do data analysts use confusion matrices?

To understand a model's prediction results

If a machine is attempting to reduce the dimensions in a dataset it is using:

Unsupervised learning

Which type of chart is best for categorical data?

Vertical bar

Which of the following is an example of an appropriate question to begin analyzing a business problem?

Why is our newest product not selling as expected in Kentucky?

. Data analytics professionals estimate that they spend how much of their time cleaning data in order to perform analysis on it?

50-90%

One of the largest challenges across the accounting industry for auditing firms which use blockchain is:

A gap in skillset

Which of the following is an example of natural language processing?

A product which reads contracts and helps accountants with revenue recognition

Which of the following is a set of standards created by the AICPA for data files and fields in order to support external audits?

Audit Data Standards (ADS).

Which of the following is not one of the skill sets often associated with data analytics? A. Mining and analyzing data. B. Creating data structures and models. C. Normalizing data structures. D. Bifurcating data

Bifurcating data

Which of the following is not one of the skill sets often associated with data analytics?

Bifurcating data.

Which of the following does not describe characteristics of the AMPS model?

Binary

Which of the following does not describe characteristics of the AMPS model? Iterative Can lead to asking deeper questions Binary Leaves the decision maker more knowledgeable

Binary

Which type of question would accountants most likely use data analytics to answer?

Collectability of loans receivable

Which type of analysis assists with understanding why something happened during the third step of the AMPS model, performing the analysis?

Diagnostic

Raw data often must be scrubbed to remove extraneous data and other noise in order to become useful. This technique is known as:

Extract, Transform, and Load.

. According to the results of the PWC's 18th Annual Global CEO Survey, CEO's aren't yet ready to place a high value on data analytics

F

1. Data analytics is used to publish historical information

F

According to the results of the PWC's 18th Annual Global CEO Survey, CEO's aren't yet ready to place a high value on data analytics.

F

Blockchain is a highly regulated technology.

F

Consortium blockchain has no access restrictions in relation to viewing or participating in the blockchain network.

F

Data analytics can provide deep insight into financial data, but is not particularly useful when evaluating non-financial data such as social media.

F

Data analytics is used to publish historical information.

F

Data visualization presents data in tables

F

Data visualizations presents UML class diagrams

F

During the second stage of the AMPS model a business analyst would likely only gather data meeting Audit Data Standards

F

During the second stage of the AMPS model a business analyst would likely only gather data meeting Audit Data Standards.

F

Machine learning requires less data than general Artificial Intelligence

F

Powerpoint Is the most relevant data visualization tool

F

The key difference between artificial intelligence applications and machine learning is that machine learning involves the computer learning from specific instructions versus experience

F

When creating a data visualization the analyst should never create new fields.

F

Which of the following best describes the AICPA's Audit Data Standards (ADS)?

a set of standards for data files in fields designed to support external audits

8. Which of the following should an analyst not do when on the second step of the AMPS model, mastering the data?

analyze the data

Which type of analysis assists with understanding what is happening right now?

prescriptive

Which of the following is not an example of data questions which arise during the second step of the AMPS model, mastering the data?

Data serviceability.

Which of the following best summarizes the two key limiting factors for business systems when dealing with Big Data?

Data storage capacity and processing power

Which statement best describes data visualization?

Data visualization is one way we share the story

Artificial Intelligence can include all of the following except: Database programming. Language translation. Logical thinking. Visual perception.

Database programming.

Power BI can source data from all of the following except? Power BI datasets Microsoft Excel All of the following are sources Text files

All of the following are sources

Which of the following best describes the skill sets used in data analytics?

Acquiring/cleansing data; Creating data structures/models; Mining/analyzing data.

What can users do with Tableau? Create calculated fields Build relationships between data sources All of the answers are correct Create data visualizations

All of the answers are correct

Which type of blockchain would a corporation and their key supplier set up to facilitate transactions?

Consortium

Which of the following is not a common element of performing and sharing data analysis amongst visualization tools?

Create data