CLEMSON ACCT 3130 MIDTERM 1 EXAM QUESTIONS ANSWERED CORRECTLY LATEST UPDATE 2026
Data analytics - Answers The process of evaluating data with the purpose of drawing conclusions to
address business questions. Indeed, effective Data Analytics provides a way to search through large
structured and unstructured data to identify unknown patterns or relationships.
Big Data - Answers Datasets that are too large and complex for businesses' existing systems to handle
utilizing their traditional capabilities to capture, store, manage, and analyze these datasets.
The IMPACT Cycle - Answers 1. Identify the questions
2. Master the data
3. Perform the test plan
4. Address and refine results
5. Communicate insights
6. Track outcomes
Classification approach - Answers A data approach that attempts to assign each unit in a population
into a few categories potentially to help with predictions.
Regression approach - Answers A data approach that attempts to estimate or predict, for each unit,
the numerical value of some variable using some type of statistical model.
similarity matching approach - Answers A data approach that attempts to identify similar individuals
based on data known about them.
Clustering approach - Answers A data approach that attempts to divide individuals (like customers)
into groups (or clusters) in a useful or meaningful way.
co-occurrence grouping - Answers A data approach that attempts to discover associations between
individuals based on transactions involving them.
Profiling approach - Answers A data approach that attempts to characterize the "typical" behavior of
an individual, group, or population by generating summary statistics about the data (including mean,
standard deviations, etc.).
Link prediction approach - Answers A data approach that attempts to predict a relationship between
two data items.
Data reduction approach - Answers A data approach that attempts to reduce the amount of
information that needs to be considered to focus on the most critical items (i.e., highest cost, highest
risk, largest impact, etc.).
Big Data is often described by the three Vs, or - Answers volume, velocity, variety
Which approach to Data Analytics attempts to assign each unit in a population into a small set of
classes (or groups) where the unit best fits? - Answers Classification
Which approach to Data Analytics attempts to identify similar individuals based on data known about
them? - Answers Similarity matching
Which approach to Data Analytics attempts to predict relationship between two data items? -
Answers Link Prediction
Which of these terms is defined as being a central repository of descriptions for all of the data
attributes of the dataset? - Answers Data dictionary
Which skills were not emphasized that analytic-minded accountants should have? - Answers
Classification of test approaches & Data and systems analysis and design
The IMPACT cycle includes all but the following process: - Answers Visualize the data. & Data
preparation.
By the year 2020, about 1.7 megabytes of new information be created every: - Answers Second.
relational database - Answers A means of storing data in order to ensure that the data are complete,
not redundant, and to help enforce business rules. Relational databases also aid in communication
and integration of business processes across an organization.
Flat File - Answers A means of storing data in one place, such as in an Excel spreadsheet, as opposed
to storing the data in multiple tables, such as in a relational database.
Primary key - Answers An attribute that is required to exist in each table of a relational database and
serves as the "unique identifier" for each record in a table.
Foreign key - Answers An attribute that exists in relational databases in order to carry out the
relationship between two tables. This does not serve as the "unique identifier" for each record in a
table. These must be identified when mastering the data from a relational database in order to
extract the data correctly from more than one table.
Data analytics - Answers The process of evaluating data with the purpose of drawing conclusions to
address business questions. Indeed, effective Data Analytics provides a way to search through large
structured and unstructured data to identify unknown patterns or relationships.
Big Data - Answers Datasets that are too large and complex for businesses' existing systems to handle
utilizing their traditional capabilities to capture, store, manage, and analyze these datasets.
The IMPACT Cycle - Answers 1. Identify the questions
2. Master the data
3. Perform the test plan
4. Address and refine results
5. Communicate insights
6. Track outcomes
Classification approach - Answers A data approach that attempts to assign each unit in a population
into a few categories potentially to help with predictions.
Regression approach - Answers A data approach that attempts to estimate or predict, for each unit,
the numerical value of some variable using some type of statistical model.
similarity matching approach - Answers A data approach that attempts to identify similar individuals
based on data known about them.
Clustering approach - Answers A data approach that attempts to divide individuals (like customers)
into groups (or clusters) in a useful or meaningful way.
co-occurrence grouping - Answers A data approach that attempts to discover associations between
individuals based on transactions involving them.
Profiling approach - Answers A data approach that attempts to characterize the "typical" behavior of
an individual, group, or population by generating summary statistics about the data (including mean,
standard deviations, etc.).
Link prediction approach - Answers A data approach that attempts to predict a relationship between
two data items.
Data reduction approach - Answers A data approach that attempts to reduce the amount of
information that needs to be considered to focus on the most critical items (i.e., highest cost, highest
risk, largest impact, etc.).
Big Data is often described by the three Vs, or - Answers volume, velocity, variety
Which approach to Data Analytics attempts to assign each unit in a population into a small set of
classes (or groups) where the unit best fits? - Answers Classification
Which approach to Data Analytics attempts to identify similar individuals based on data known about
them? - Answers Similarity matching
Which approach to Data Analytics attempts to predict relationship between two data items? -
Answers Link Prediction
Which of these terms is defined as being a central repository of descriptions for all of the data
attributes of the dataset? - Answers Data dictionary
Which skills were not emphasized that analytic-minded accountants should have? - Answers
Classification of test approaches & Data and systems analysis and design
The IMPACT cycle includes all but the following process: - Answers Visualize the data. & Data
preparation.
By the year 2020, about 1.7 megabytes of new information be created every: - Answers Second.
relational database - Answers A means of storing data in order to ensure that the data are complete,
not redundant, and to help enforce business rules. Relational databases also aid in communication
and integration of business processes across an organization.
Flat File - Answers A means of storing data in one place, such as in an Excel spreadsheet, as opposed
to storing the data in multiple tables, such as in a relational database.
Primary key - Answers An attribute that is required to exist in each table of a relational database and
serves as the "unique identifier" for each record in a table.
Foreign key - Answers An attribute that exists in relational databases in order to carry out the
relationship between two tables. This does not serve as the "unique identifier" for each record in a
table. These must be identified when mastering the data from a relational database in order to
extract the data correctly from more than one table.
