FiddleWare Limited Uses a Purchased Software Package to Handle the Processing

question 41

Multiple Choice

FiddleWare Limited uses a purchased software package to handle the processing of its transactions.An important control that management should implement with respect to information systems is the

• A)use of a formal systems development methodology.
• B)evaluation of potential new systems against organizational objectives.
• C)use of appropriate checkpoints and milestones during development.
• D)tracking of routine program maintenance changes.

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Definitions:

Sampling Distribution

The probability distribution of a given random-sample-based statistic, used in statistical significance testing.

Standard Deviation

A metric that quantifies how much a dataset varies or spreads around the average, illustrating the extent to which the data values are dispersed.

Population Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of data values in an entire population.

Confidence Intervals

Ranges derived from statistics that estimate the likelihood of a population parameter falling within set bounds, providing insight into measurement precision.