Data analytics - Final Exam

Which of these is a risk in data analysis?

A client that wants a particular outcome

A PivotTable displays sales by product type, year of sale, and the total dollar amount of sale. You would like to only see three of the 15 specific product types. The best way to focus only on the specific product types you are interested in is to use

A filter

A request for data from a database in order to retrieve or manipulate it is called:

A query.

When performing a join between two tables, if a null value is returned, that indicates

A value does not exist in the database.

Which of the following Microsoft Excel functions returns the arithmetic mean for a range or array of numbers?

AVERAGE

Which of the following is a benefit of data visualization?

All of these are benefits to data visualization

The data analysis process stage in which information models are built is the

Analyze Stage

A visualization used to represent changes in volume over time is a/an

Area chart

A negative correlation means

As one variable increases, the other variable decreases

Columns in a database reflect

Attributes

What is the best visualization: Show sales comparisons by year

Bar chart

The following are all data relationships except

Boolean

Slicing refers to

Breaking down the data into smaller parts

What is the best visualization: Show the distribution of sales by country

Bubble chart

Which of the following Microsoft Excel functions counts the number of cells specified by a given set of criteria?

COUNTIFS

Cognitive technologies include each of the following EXCEPT for

Classification of accounts receivables' collectability

The analyze stage of the data analytics process includes which of the following tasks?

Cleaning the data set to remove errors and omissions.

Auto filter functionality in a PivotTable can be accessed by

Clicking on the dropdown arrow in the row labels

An example of a preattentive attribute is

Color

The ability to prepare effective data visualizations for the results of an analysis is part of which skill set?

Communication

What Is the appropriate bias: The person interpreting the analysis focuses on results that support the existing assumption

Confirmation bias

What Is the appropriate bias: The person interpreting the analysis ignores aspects of the analysis that contradicts the existing assumption

Confirmation bias

What Is the appropriate bias: The person interpreting the analysis wants to prove a predetermined assumption

Confirmation bias

What Is the appropriate bias: The person performing the analysis wants to prove a predetermined assumption.

Confirmation bias

Jamie was preparing a visualization to show the results of an analysis of sales trends. Jamie has data for each month's sales from all the company's regions. All the sales data is reported in whole dollars except for the east region. The east region reports sales in thousands. This is an example of what type of data verification attribute?

Consistency

A strong growth in Wallmark's number of employees has resulted in strong growth in office expenses

Correlation

Auditors are embracing new data analyses options in all of the following areas except

Creating automatic performance reports for client management

Disciplined reasoning used to investigate, understand, and evaluate an event, opportunity, or an issue is considered

Critical thinking

Which of the following presents the correct order of the data analyses value creation chain?

Data analysis, new intelligence, strategy shifts, value creation

Data differs from information because

Data are raw figures and facts whereas information is the knowledge we gain from the data

Which activities are performed during the reporting stage of data analysis?

Data interpretation and communication

The ability to read, write, and communicate data in context is/are referred to as

Data literacy

When the results of data analysis do not provide significant business intelligence to an organization, the data is not considered to have

Data value

Anderson hypothesized there would be a direct relationship between his customers' sales volume and the positive tone in their product satisfaction survey comments. The analysis he would perform to compare the number of units sold and textual data would have high

Data variety

Elizabeth was asked to analyze how many Facebook stories refer to her company. The unstructured textual data she will be analyzing has high

Data velocity

A well-designed __________ conveys the results of an analysis in a clear and concise manner.

Data visualization

XYM, Inc. wants to change from in-house servers to using cloud service providers to increase their data storage capacity. This is likely due to high

Data volume

Last year Wallmark's labor costs systematically exceeded their estimates. This might haver been caused by the premiums Wallmark paid related to the pandemic.

Deviation

The question "Why are costs rising in business unit A?" would be answered using which type of data analysis method?

Diagnostic

Last month the average price Wallmark paid for a button battery, a key element in musical greeting cards, was $7. However, prices for the exact same product ranged from $3 to $18

Distribution

Continuous auditing involves

Embedded software modules that capture test transactions as they occur

The combination of narrative and data __________ the story.

Explain

Using data visualization to identify underlying patterns is considered

Exploratory data visualization

A join that returns all records when there is a match in either the left or right table is which type of join?

Full

The analysis stage of the data analytics process is currently enhanced by

Greater variety of data and combination of data types

If the coefficient of skewness is -1.5, the data distribution will have a

High degree of skewness and tail to the left

A visualization used to show frequency distributions is a/an

Histogram chart

Which element of critical thinking helps avoid wasting time on irrelevant analyses or findings?

Identifying the purpose

A join that returns all rows from both tables that have matching values is which type of join?

Inner

In a relational database, a primary key:

Is a unique value.

A join that results in retrieving all the records from the left table and the matching records from the right table is which type of join?

Left

What is the best visualization: Show sales trends over time

Line chart

A(n) __________ audience is primarily concerned with actionable results.

Managerial

The sum of all observations in a data set divided by the total number of observations is called the

Mean

The middle value when the data in a data set are arranged from smallest to largest is called the

Median

Tax accountants are using emerging analysis technologies for which of the following?

Optimizing internal transfer pricing choices

Batteries represent 20% of the cost of making a standard musical greeting card

Part-to-whole

A visualization used to illustrate simple part-to-whole relationships is a/an

Pie chart

Which tool in Microsoft Excel will reorganize spreadsheet data into custom summaries of key information?

PivotTable

Understanding why we are performing data analysis, what the goal is, and which data to use is part of which stage of data analysis?

Plan Stage

Which type of risk: Did the analysis meet the original objective and answer the question?

Potential analysis risk

Which type of risk: Was the correct method used to perform the analysis?

Potential analysis risk

Which type of risk: Did the preparer have any potential biases that could have influenced the preparation of the analysis?

Potential bias risk

Which type of risk: Were all the necessary and appropriate data included in the analysis?

Potential bias risk

Which type of risk: Are the data used in the analysis the most recent available?

Potential data risk

Which type of risk: Is the analysis missing relevant data?

Potential data risk

Which type of risk: Were appropriate internal controls in place to ensure the data used was correct?

Potential data risk

The question "Based on current year sales, what can we expect for next year's sales?" would be answered using which type of data analysis method?

Predictive

Data mining techniques are being used by the profession to

Prepare the data and explore the data further

Self-service business intelligence software

Provides easy-to-use extended data processing capabilities for preparing data, and reporting data analysis results

Dara prepared a data analysis of profitability by product for the current year for her company. She felt it was also important to show how this year's profitability compared to prior years. This is an example of

Putting the analysis in context

A collection of logically related data that can be retrieved, manipulated, and updated to meet users' needs is called a:

Relational Database

Tables in a database may be in which of the following elements?

Resources, events, agents

A join that returns all the records from the right table as well as all the matched records from the left table is which type of join?

Right

Methodically peeling back layers of the analysis in a data story is the __________ section of the story.

Rising action

Marcus is a financial accountant for a computer software company. He was asked to do an analysis of cashflows over the past five years and to prepare a revenue forecast. The company is seeking additional investors so that they can expand their operations. Marcus' supervisor has asked him to prepare a report that will be given to the potential investors. If the investors have a bias against the type of software the company sells, Marcus should consider this bias as a(n):

Risk

This function adds the cells specified by a condition or criteria.

SUMIF

This function adds the cells specified by a conditions or criteria.

SUMIFS

What is the best visualization: Show the distribution of prices for a specific product

Scatterplot

What is the best visualization: Show the relationship between temperatures and soup sales at a restraunt

Scatterplot

When showing correlation between two variables, which is the most appropriate chart to use?

Scatterplot

What Is the appropriate bias: The person performing the analysis selected the data subjectively

Selection biais

What Is the appropriate bias: The person interpreting the analysis considers only a sample of the data rather than the entire population

Selection bias

An area chart is best used for which of the following objectives?

Showing distributions

A scatterplot is best used for which of the following objectives?

Showing relationships

Which of the following is NOT a best practice for preparing a presentation of data analysis results?

Slide titles should be generic so that all can understand the title

Blockchain technologies are being heavily utilized for which of the following?

Smart contracts helping revenue recognition and lease documentation

What is the best visualization: Show the composition of total expenses

Stacked bar chart

Sara is a financial accountant for a retail company who was asked to do an analysis of sales over the past five years to prepare a sales forecast. The company is seeking additional investors so they can expand their operations. Sara's supervisor has asked her to prepare a report that will be given to the potential investors. The investors would be considered the ____________ of the report.

Stakeholders

A mindset of being aware of the newest technology and a willingness to try new things is referred to as

Technological agility

Which of the following is not likely a resource for a professional to stay up-to-date regarding data privacy regulation?

The Sarbanes-Oxley Act of 2002 (SOX)

Identify how the following visualization may be misleading.

The axis does not start at zero

Who is an internal stakeholder for a manufacturing company?

The company's CFO (chief financial officer).

AIS professionals are most likely responsible for performing data analyses to gain insight in which of the following?

The value the accounting system provides to the organization's internal users and recipients of information outputs.

Which of the following summarizes why managerial accountants have quickly embraced new data and analyses options?

They have a long, innovative tradition of using interdisciplinary data for problem solving and to identify opportunities.

Professional critical thinking elements in data analysis include

Understanding stakeholders, identifying the purpose, considering alternatives, assessing risks, identifying knowledge needed, and self-reflecting.

If there are 9 categories in a column chart, which of the following would improve the visualization and make it easier for the reader to interpret?

Using horizontal bars

Nicolas is a financial accountant for a global company that daily processes millions of purchases from thousands of vendors. As he prepares the accounts payable records for the external auditors, he is interested in the ending accounts payable data

Veracity

A _____________ audience is primarily concerned with actionable results

managerial

Measures of dispersion show

variation