Explanation

A prosperity audit is a type of audit that focuses on evaluating the overall financial health and well-being of a company. It goes beyond the traditional scope of an audit, which typically focuses on detecting fraud, improving financial management, or complying with laws and regulations.

A prosperity audit is designed to provide a comprehensive assessment of a company's financial position, performance, and prospects. It examines various aspects of the company's financial health, including:

• Financial statements and reporting
• Financial planning and budgeting
• Cash flow management
• Risk management
• Financial performance metrics
• Governance and internal controls

Explanation

1. Count the number of desired outcomes:

- There are 11 white balls.

2. Count the total number of possible outcomes:

- There are 5 blue balls.

- There are 6 red balls.

- There are 11 white balls.

- Add these numbers together: 5 + 6 + 11 = 22 possible outcomes.

3. Calculate the probability by dividing the number of desired outcomes by the total number of possible outcomes:

- Probability = Number of desired outcomes / Total number of possible outcomes

- Probability = 11 / 22 = 0.5

Therefore, the probability of pulling out a white ball from the bag is 0.5, or 50%.

Explanation

A disjunction p ∨ q is false only when both p and q are false.

Explanation

• If heteroscedasticity is present in a regression model but ignored, the Ordinary Least Squares (OLS) estimator will still be unbiased, but it will not be efficient.
• This means that the estimator will not have the smallest possible variance, and the estimates may not be precise.

Explanation

In statistics, the median is indeed often referred to as the 50th percentile.

This means that 50% of the values in a dataset are below the median, and 50% are above it

Explanation

• A boom is a period of maximum production, high demand, and rapid economic growth.
• It's a time of high economic activity and prosperity.

Explanation

• A Type-1 error, also known as an alpha error.
• It occurs when a statistical test rejects a null hypothesis that is actually true.
• This is a "false positive" result, where a significant effect is detected when none exists.

Explanation

The correct statement regarding the coefficient of correlation is: It is independent of both the scale and origin.

Explanation

Relative frequency is the ratio of the frequency of a class to the total number of observations.

When you add the relative frequencies of all classes, the total must equal 1 (or 100%).

Explanation

The code "0210" is not a binary code because it contains the digit "2," which is not valid in the binary number system.

Binary code strictly uses only the digits 0 and 1.

Each digit in a binary number is called a bit.