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Data Analytics for Accounting, 3rd Edition by Vernon Richardson
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TEST BANK For Data Analytics for Accounting, 3rdEdition by Vernon Richardson
Big Data is often described by the three V's, or - ANSWER: Volume, velocity, and
variety
Which of the following best describes the data analytics skill of developing an
analytics mindset? - ANSWER: Recognize when and how data analytics can address
business questions
Which approach to Data Analytics attempts to assign each unit in a population into a
small set of classes where the unit belongs? - ANSWER: Classification
Which approach to Data Analytics attempts to identify similar individuals based on
data known about them? - ANSWER: Similarity Matching
Which of these terms is defined as being a central repository of descriptions for all of
the data attributes of the dataset? - ANSWER: Data Dictionary
Which skills were not emphasized that analytic-minded accountants should have?
A) Defining and addressing problems through statistical data analysis.
B) Data scrubbing and data preparation.
C) Classification of test approaches.
D) Developing an analytics mindset. - ANSWER: C
Which skills were not emphasized that analytic-minded accountants should have?
A) Data quality.
B) Data and systems analysis and design.
C) Descriptive data analysis.
D) Data visualization. - ANSWER: B
List the steps of the IMPACT cycle: - ANSWER: 1) Identify questions
2) Master the Data
3) Perform test plan
4) Address and refine results
5) Communicate insights
6) Track outcomes
By the year 2020, about 1.7 megabytes of new information be created every: -
ANSWER: Second
Mastering the data can also be described via the ETL process. The ETL process stands
for: - ANSWER: Extract
, Transform
Load data
When using [EmployeeID] as the unique identifier of the Employee table,
[EmployeeID] is an example of which of the following: - ANSWER: Primary Key
The purpose of extracting data is: - ANSWER: To identify and obtain the data from
the appropriate source
The purpose of transforming the data is: - ANSWER: To validate the data for
completness and integrity
The purpose of loading data is: - ANSWER: To load data into the appropriate tool for
analysis (Tableau, Power BI, Excel)
Which of the following best exemplifies a way that data will need to be cleaned after
extraction and validation? - ANSWER: Removing headings and subtotals
Comparing descriptive statistics for numeric fields within the data is an example of
which of the following? - ANSWER: Validating the data for completeness
Removing leading zeroes and non-printable characters from the data is an example
of which of the following? - ANSWER: Cleaning the data
Which of the following best describes the purpose of a foreign key? - ANSWER: To
create the relationship between two tables
When obtaining the data yourself, you should do all of the following before you
begin except:
A) Identify any errors or issues from the extraction.
B) Identify how the tables are related to each other.
C) Identify which attributes specifically hold the information you need in each table.
D) Identify the tables that contain the information you need. - ANSWER: Identify any
errors or issues from the extraction
All of the following are examples of a supervised approach to evaluation data except:
A) Regression
B) Link prediction.
C) Causal modeling.
D) Data reduction. - ANSWER: Data Reduction
All of the following are examples of an unsupervised approach to evaluation data
except:
A) Co-occurance grouping
B) Similarity matching
C) Profiling
D) Clustering - ANSWER: Similarity Matching
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