Statistics Regulatory Frameworks & Compliance 4

Question 1

Which concept in survey methodology, required by U.S. federal statistical standards, measures the difference between a survey estimate and the true population value?

Accepted Answer

Bias

Answer

Bias is the systematic difference between a survey estimate and the true population parameter, and federal standards require agencies to assess and minimize it.

Question 2

The SEC's Regulation S-X requires that financial statements be presented using which statistical valuation method for inventory?

Accepted Answer

FIFO, LIFO, or weighted average, with disclosure of method used

Answer

SEC Regulation S-X permits multiple inventory valuation methods but requires registrants to disclose which method they use for comparability.

Question 3

In educational testing, which federal law prohibits using single standardized test scores as the sole criterion for high-stakes educational decisions?

Accepted Answer

Every Student Succeeds Act

Answer

ESSA explicitly prohibits states from using a single assessment as the sole measure for any high-stakes accountability decision.

Question 4

What does the concept of 'analytical completeness' require in regulated statistical reporting?

Accepted Answer

Reporting all pre-specified analyses regardless of outcome

Answer

Analytical completeness requires reporting all pre-specified analyses to prevent selective reporting bias in regulatory submissions.

Question 5

Under the Americans with Disabilities Act, employers using statistical selection procedures must demonstrate which type of validity?

Accepted Answer

Content, criterion, or construct validity

Answer

The EEOC Uniform Guidelines require that any selection procedure with adverse impact demonstrate content, criterion-related, or construct validity.

Statistics Practice Test

Statistics Practice Test

Statistics Regulatory Frameworks & Compliance 4