Which of the Following Is NOT an Example of an Inefficiency

question 78

Multiple Choice

Which of the following is NOT an example of an inefficiency that could be uncovered in a performance audit?

• A) The administration work could be completed effectively with fewer employees.
• B) Bids for purchases of materials are not required.
• C) The assembly line shut down, as necessary materials were not ordered.
• D) Purchases of inventory must be from approved suppliers.

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Definitions:

Regression Analysis

A set of statistical processes for estimating the relationships among variables, focusing primarily on the dependence of a response variable on one or more explanatory variables.

Residuals

The differences between observed and predicted values in a statistical model, representing the unexplained part by the model.

Concerts Attended

Refers to the number of live music performances a person has gone to within a specified period.

Confidence Interval

A range of values, derived from sample data, that is used to estimate the true value of a population parameter with a specified level of confidence.