ACC 324 Nargess exam 1

if p value < = alpha threshold, you should

reject the null hypothesis (i.e., significant result).

Ratio data has absolute zero

true

According to the AMPS model, the analyst should know the question they are trying to address before considering and accessing available data

true

a realistic expectation an accountant could hold is that addresses of the company vendors are not similar to that of the company employees

true

predictive analysis emphasizes "will something happen in the future"

true

primary keys are required in every relational database

true

the dollar amounts included in the financial statements would be examples of ratio data

true

there is more social media data than financial statement data available

true

version control reduces the possibility of having more than one version of the data on different computers

true

tableau shows you are importing numerical variables by showing the ___ icon

#

For each of the questions below, categorize the appropriate statistical technique that should be used to perform the analysis. 1. Finding the frequency of all transactions, from the minimum to the maximum. 2. Looking for potentially fraudulent transactions. 3. Minimizing tax payment based on expected changes in tax legislation. 4. Segregating total costs into fixed and variable cost components. 5. Displaying total accounts receivable balance by days overdue (aging).

1. Histogram 2. regression analysis 3. what if/ goal seek 4. pivot table 5. benford's law

For each of the questions below, categorize them as one of the following question types: 1. How much did we pay in fed taxes last year? 2. If we have a 12/31 year-end audit clients, how will we organize our audit work in the new year? 3. Can the IRS find those individuals or corporations evading taxes using predictive techniques? 4. Did the airline company's on-time departures improve this past month? 5. Can our variance analysis help explain why the labor expenses increased over the past year?

1. What happened? what is happening? 2. What should we do based on what we expect will happen? How do we optimize our performance based on potential constraints? 3. Will it happen in the future? What is the probability something will happen? Is it forecastable? 4. Why did it happen? What are the root causes of past results? 5. What should we do based on what we expect will happen? How do we optimize our performance based on potential constraints?

For which of the various potential transactions would analysis using Benford's law be useful to perform? 1. $500 is the minimum refund 2. ATM withdrawals are in $20 denominations ($20, $40, $60, etc.) 3. Each sales transaction amount 4. Each participant receives $100 if they participated in the survey 5. Total Assets of the Fortune 500

1. not useful 2, not useful 3. useful 4. not useful 5, useful

Select the relational database component term to its description: 1.These are the rows in a table; each row, or record, corresponds to a unique instance of what is being described in the table. 2.These are the columns that contain descriptive information about the observations in the table. Specific types of fields are primary keys and foreign keys. 3. Data organized into sets of columns (fields) and rows (records) 4. These are the columns that contain descriptive information about the observations in the table. Specific types of variables are primary keys and foreign keys.

1. records 2. fields 3. tables 4. variables

1. If the alpha threshold is 0.05, and the p-value on a t-test comparing one company's ROA to the industry average ROA is 0.045, what do you conclude about the null hypothesis that the company's ROA is the same as the industry? 2. Is the roa the same of different than that of the industry? 3.. If the alpha threshold is 0.10, and the p-value on a t-test comparing one company's ROA to the industry average ROA is 0.11, what do you conclude about the null hypothesis that the company's ROA is the same as the industry? 4. Is the ROA the same or different than that of the industry?

1. reject the null hypothesis 2. different 3. accept null hypothesis 4. same

Select the diagnostic analytics to an example or definition. 1. Analytics to see if we can find all of the skipped purchase order numbers. 2.An observation that lies outside its expected distribution. 3. Test used to evaluate if accounting profits are greater at manufacturing firms as compared to retailing firms. 4. The price variance is favorable, but the quantity variance is not favorable. 5. Difficulty cutting out unprofitable products.

1. sequence check 2. outlier 3. two sample t test difference of means 4. variance analysis 5. sunk cost fallacy

The Northwinds database has several tables, including Products, Suppliers, and Categories. A subset of the Products table is provided, which details all the products that a fictional company named Northwinds sells. The Northwinds database is generously provided by Microsoft as an example database 1. Glancing through each variable in the Products table, which stand out as numerical data, that is, data that would be interesting to add or average? 2.If you averaged everything in the SupplierID field, would you obtain a useful number? 3.If you averaged UnitPrice, would you obtain a useful number? 4. What does the field Supplier ID represent? 5. Which fields should you use to calculate when it's time to reorder a product? 6. If you were to create a meaningful report regarding when products should be reordered, which fields would you include? 7. Which fields would you create via numerical calculations?

1. unit price, units in stock, units on order, reorder level 2. no 3. yes 4. categorical 5.units in stock and units on order 6. reorder level, product name 7. units in stock, units on order

f there are 6 transactions on 11/1, 3 transactions on 11/2 and 10 transactions on 11/3, what is the proportion of the 11/1 transactions to the total transactions that occur during the first three days of November?

= 6/19

Which component of the AMPS model most approprietely addresses the axiom "your data won't speak unless you ask it the right analytics questions."

Ask the question

EDGAR, the SEC repository of SEC forms, stands for

Electronic data gathering, analysis and retrieval system

The third step of the AMPS model is

Perform the analysis

A visualization may be used to help with which component of the AMPS model

Share the Story

"create" is the highest skill in bloom's taxonomy

True

data with greater veracity is often more impactful, carrying more weight in analysis than data with lesser veracity in addressing accounting questions

True

A business report that allows an easy, automated exchange between a financial statement repository and a financial statement user is possible using

XBRL

descriptive analytic measures of variability include all except which of the following- minimums, maximums, standard deviation, medians

medians

which measure would help us evaluate what happens in the highest and lowest 10 percent of the data

deciles

the appropriate test to see if independent variables are related to dependent variable is called a

regression

what tool or technique is used to quantitatively analyze the relationship between and among multiple varibles

cross- tabulations

the 2011 movie moneyball is an example of ___ analytics applied to the sport of baseball

drill down, detailed

diagnostic analytics emphasizes " what happened"

false

it is possible to input raw data in tableau

false

one of the primary internal control benefits of storing data in a relational database is increased redundancy cuts down on errors

false

Management accounting uses variance analysis to explain what and why something happened in the cost of producing products. It is done by comparing actual outcomes to expected, or standard, costs. What is the expectation when the price of raw materials unexpectedly decreases below the standard price?

favorable price variance

whereas ___ would generally be considered to structured data, ___ would generally be considered to be unstructured data

financial statements, product reviews

the biggest difference between 10-k and 10-q is the ___ disclosure

frequency of

the ___ summarizes all of the journal entries which forms the basis for the financial statements

general ledger

tableau shows you are importing a geographical variable by showing the ___ icon

globe

An information system for managing all interactions with current and potential employees is called an

human resource management system

a ___ t test is more powerful than a ___ t test

one tailed, two tailed

which is an observation that lies outside its expected distribution

outlier

diagnostic analytics is broken down into all except for which of the following broad categorites

performing descriptive analytics

an example of unstructured data would include

pictures

which distribution is a probability distribution with a low mean and highly skewed to the right

poisson distribution

an example of structured data would include

product reviews

A ___ is used to access data from a larger dataset needed for analysis

query or macro

earnings per share would be considered ___ data

ratio

a row that corresponds to a unique instance of what is being described in the table is called an

record

Which is the lowest level of skills in blooms taxonomy

remember

the best way to analyze the variability in the sample would be to consider the

standard deviation

in vertical analysis, the relevant base for long term debt is which of the following

total assets

the appropriate test to compare one sample to another sample to see if one is greater that another in some way is called an

two sample t test of a difference in means

If there were fake news presented by someone trying to sway an opinion (or vote), that would bring into question which aspect of big data

veracity

what type of question does prescriptive analysis address

what should we do based on what we expect will happen

what type of question does diagnostic analytics address

why did it happen