Business Analytics

Exercise No 2 Answer Key

School of Business Management and Accountancy
National University - Dasmariñas
Prepared by: Camille Abuzo
16 September 2023

A (1 point each) Multiple Choice Questions. Choose the correct

answer.
1. Big data is often described by the four V’s or
A. volume, velocity, veracity, and variability
B. volume, velocity, veracity, and variety
C. volume, volatility, veracity, and variability
D. variability, velocity, veracity, and variety
2. Which of these terms is defined as being a central repository of descriptions for all of the data attributes of
the dataset?
A. Big Data B. Data warehouse C. Data dictionary D. Data Analytics

3. The IMPACT cycle includes all except the following steps:

A. perform test plan. B. visualize the data. C. master the data. D. track outcomes.
4. In which areas were skills not emphasized for analytic-minded accountants?
A. Data quality
B. Descriptive Data analysis
C. Data visualization and data reporting
D. Data and systems analysis and design
5. Mastering the data can also be described via the ETL process. The ETL process stands for:
A. extract, total, and load data.
B. enter, transform, and load data.
C. extract, transform and load data.
D. enter, total and load data.
6. The advantages of storing data in a relational database include which of the following:

A. Help in enforcing business rules

B. Increased information redundancy
C. Integrating business processes
D. All of the answers are correct
E. a and b
F. b and c
G. a and c

1
 7. The purpose of transforming data is:
A. To validate the data for completeness and integrity
B. To load the data into the appropriate tool for analysis
C. To obtain the data from the appropriate source
D. To identify which data are necessary to complete the analysis
8. Which attribute is required to exist in each table of a relational database and serves as the ”unique identifier”
for each record in a table?
A. Foreign key B. Unique identifier C. Primary key D. Key attribute
9. What are attributes that exist in a relational database that are neither primary nor foreign keys?
A. Nondescript attributes
B. Descriptive attributes
C. Composite keys
D. Relational table attributes
10. Which of the following questions are not suggested by the Institute of Business Ethics to allow a business
to create value from data use and analysis, and still protect the privacy of stakeholders?
A. How does the company use data, and to what extent are they integrated into firm strategy?
B. Does the company send a privacy notice to individuals when their personal data are collected?
C. Does the data used by the company include personally identifiable information?
D. Does the company have the appropriate tools to mitigate the risks of data misuse?

B (1 point each) Problems. Write the corresponding letter.

1. Match each of the specific Data Analytics tasks to the stage of the IMPACT cycle:
Specific Data Analytics Test
A. Should we use company-specific data or macro-economic data to address the accounting question?
Master the Data
B. What are appropriate cost drivers for activity-based costing purposes? Identify the Question
C. Should we consider using regression analysis or clustering analysis to evaluate the data? Perform
Test Plan
D. Should we use tables or graphs to show management what we’ve found? Communicate Insights
E. Now that we’ve evaluated the data one way, should we perform another analysis to gain additional
insights? Address and Refine Results
F. What type of dashboard should we use to get the latest, up-to-date results? Track Outcomes
2. Match the relational database function to the appropriate relational database term:
Relational Database Function
A. Serves as a unique identifier in a database table. Primary Key
B. Creates a relationship between two tables. Foreign Key
C. Two foreign keys from the tables that it is linking combine to make up a unique identifier.
Composition Primary Key
D. Describes each record with a characteristics with actual business information. Descriptive At-
tribute
E. A means of storing data to ensure data are complete, redundant, to help enforce business rules.
Relational Database

end

Page 2