Prescriptive Analytics Identifies a Course of Action for the Auditor

question 17

True/False

Prescriptive analytics identifies a course of action for the auditor to take based on the actions taken in similar situations in the past.

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Definitions:

Interpretation Of Results

The process of analyzing data obtained from research or experiments to determine their significance and implications.

Statistically

Relating to, or based on, the principles of statistics, often implying the utilization of quantitative data to draw conclusions.

Correlational Techniques

Statistical methods used to determine if a relationship exists between two or more variables, without necessarily implying causation.

.01 Level

A statistical significance level indicating that the probability of the observed results occurring by chance is less than 1%.