COST ACCOUNTING A DATA ANALYTICS
APPROACH CHAPTERS 1 TO 14 EXAM 2026
COMPLETE QUESTION SET AND CORRECT
ANSWERS GRADED A PLUS
◉ descriptive statistics.
Answer: Descriptive statistics summarizes or describes the
characteristics of a data set.
1. Measures of central tendency (mean, mode, and median)
2. Data dispersion (standard deviation, variance, range, minimum,
maximum, and quartiles) (standard deviation, variance, range,
minimum, maximum, and quartiles)
3. Tables of frequency distribution (Pie graphs)
Purpose:
is to summarize data as it identifies patterns in data to answer
questions about who, what, where, when, and to what extent.
◉ data profiling.
,Answer: the process of reviewing and cleansing data to better
understand how it's structured and maintain data quality standards
within an organization.
1. column profiling
2. cross-column profiling
3. cross-table profiling
4. data rule validation.
Purpose:
produces critical insights into data that companies can then leverage
to their advantage; more specifically, data profiling sifts through data
to determine its legitimacy and quality.
◉ summary statistics.
Answer: how does it characterize typical behavior of a group?
◉ Data dictionary.
Answer: is defined as being a central repository of descriptions for
all of the data attributes of the dataset
Metadata: that describes each attribute in a database
,◉ Data warehouse.
Answer: A logical collection of information - gathered from many
different operational databases - that supports business analysis
activities and decision-making tasks
◉ Data Analytics.
Answer: the process of using data and analytical systems to arrive at
optimal decisions, including statistical analyses of data
◉ Big Data is often described by the four Vs.
Answer: a collection of large, complex data sets, including structured
and unstructured data, which cannot be analyzed using traditional
database methods and tools
four Vs:
volume
velocity
veracity
variety
◉ IMPACT cycle.
Answer: includes all the following steps:
, perform test plan.
communicate insights.
address and refine results.
except:
data preparation
◉ Classification.
Answer: data approach that attempts to assign each unit in a
population into a small set of classes (or groups) where the unit best
fits
◉ Co-occurrence grouping.
Answer: a data approach that attempts to discover associations
between individuals based on transactions involving them
◉ Similarity matching.
Answer: a data approach that attempts to identify similar
individuals based on data known about them
◉ Regression (Data Analysis).
APPROACH CHAPTERS 1 TO 14 EXAM 2026
COMPLETE QUESTION SET AND CORRECT
ANSWERS GRADED A PLUS
◉ descriptive statistics.
Answer: Descriptive statistics summarizes or describes the
characteristics of a data set.
1. Measures of central tendency (mean, mode, and median)
2. Data dispersion (standard deviation, variance, range, minimum,
maximum, and quartiles) (standard deviation, variance, range,
minimum, maximum, and quartiles)
3. Tables of frequency distribution (Pie graphs)
Purpose:
is to summarize data as it identifies patterns in data to answer
questions about who, what, where, when, and to what extent.
◉ data profiling.
,Answer: the process of reviewing and cleansing data to better
understand how it's structured and maintain data quality standards
within an organization.
1. column profiling
2. cross-column profiling
3. cross-table profiling
4. data rule validation.
Purpose:
produces critical insights into data that companies can then leverage
to their advantage; more specifically, data profiling sifts through data
to determine its legitimacy and quality.
◉ summary statistics.
Answer: how does it characterize typical behavior of a group?
◉ Data dictionary.
Answer: is defined as being a central repository of descriptions for
all of the data attributes of the dataset
Metadata: that describes each attribute in a database
,◉ Data warehouse.
Answer: A logical collection of information - gathered from many
different operational databases - that supports business analysis
activities and decision-making tasks
◉ Data Analytics.
Answer: the process of using data and analytical systems to arrive at
optimal decisions, including statistical analyses of data
◉ Big Data is often described by the four Vs.
Answer: a collection of large, complex data sets, including structured
and unstructured data, which cannot be analyzed using traditional
database methods and tools
four Vs:
volume
velocity
veracity
variety
◉ IMPACT cycle.
Answer: includes all the following steps:
, perform test plan.
communicate insights.
address and refine results.
except:
data preparation
◉ Classification.
Answer: data approach that attempts to assign each unit in a
population into a small set of classes (or groups) where the unit best
fits
◉ Co-occurrence grouping.
Answer: a data approach that attempts to discover associations
between individuals based on transactions involving them
◉ Similarity matching.
Answer: a data approach that attempts to identify similar
individuals based on data known about them
◉ Regression (Data Analysis).
