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What Is the First Step in Using Regression Analysis as Part

Question 54

Multiple Choice

What is the first step in using regression analysis as part of audit data analytics?


A) Estimate the prediction equation using data that is not currently being audited
B) Validate the prediction equation from a statistics point of view
C) Compare the predicted values (auditor's expectation) with the actual values
D) Use the regression equation to make predictions for the data being currently audited

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