As Part of an Audit Data Analytics (ADA) Procedure, Some

question 60

Multiple Choice

As part of an audit data analytics (ADA) procedure, some steps that might be used for regression analysis are:

• A)Estimate the prediction equation using data that is not currently being audited (usually historical data)
• B)Validate the prediction equation from a statistics point of view
• C)Use the regression equation to make predictions for the data being currently audited
• D)All these answer choices are correct.

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Definitions:

Gas Mileage

The distance a vehicle can travel per unit of fuel, usually measured in miles per gallon (mpg) in the United States.

Uninsured Motorist

A driver without sufficient insurance coverage to pay for damages or injuries caused in an accident.

Bodily Injury

Physical harm sustained by a person due to an accident or negligence.

Comprehensive Insurance

A type of auto insurance coverage that pays for damage to your car caused by events other than collisions, such as theft or natural disasters.