Statistical Data Analysis In Excel Section D: Setting Bounds for Regression
Note: It is assumed that you are familiar with the content of the module Statistical Data Analysis In Excel Section C: Simple Linear Regression before commencing this module.
This e-learning module explains how to build statistical bounds/tolerances and add benchmarks to your analysis.
Course Module available for 30 days after purchase.
Auditors live in a world of uncertainty, requiring judgement calls and professional scepticism.
In this module you will learn how to overlay some proven mathematics onto your regression analysis which helps you to eliminate the need for judgement calls by statistically defining outliers.
You will confirm the importance of overlaying statistical bounds/tolerances and benchmarks onto your analysis to determine whether the analysed dataset is within expectations. You will also move your testing into the realms of substantive analytical procedures and be able to speak to your conclusions with mathematical confidence.
At the end of this activity you will be able to:
- Construct statistical tolerances around your regression analyses.
- Draw mathematical audit conclusions about the level of your analyses reliability.
- Understand the value of adding a benchmark against which to compare your analysis.
BenefitsBy eliminating the need for judgement calls, your analysis moves into the realms of substantive analytical procedures allowing you to speak to your conclusions with mathematical confidence.
Topic: Audit & Assurance
Sub-Topic: Internal Audit
Proficiency Level: Foundation, Intermediate
CPD: Upto 1.5 hours