As a Part of a Forensic Accountant Engagement,you Interviewed All

question 45

Multiple Choice

As a part of a forensic accountant engagement,you interviewed all the first cousins of the subject.Which of the following types of data did you obtain?

• A) first-party data
• B) second-party data
• C) third-party data
• D) fourth-party data

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Definitions:

Residuals

Differences between observed and predicted values in a statistical model, representing unexplained variation.

Predicted Values

Estimates or forecasts of a variable or outcome based on a model or analysis of correlated variables.

Actual Y Values

The observed values of the dependent variable in a data set or experiment, compared against predicted values in regression analysis.

Estimated Regression Line

A line calculated from the data that best fits the relationship between the independent variable(s) and the dependent variable, used to predict the value of the dependent variable from the independent variable(s).