CRISC Certified in Risk and Information Systems Control – Question199

Which of the following are true for quantitative analysis? Each correct answer represents a complete solution. Choose three.

A. Determines risk factors in terms of high/medium/low.
B. Produces statistically reliable results
C. Allows discovery of which phenomena are likely to be genuine and which are merely chance occurrences
D. Allows data to be classified and counted

Correct Answer: BCD

Explanation:

Explanation:
As quantitative analysis is data driven, it:

  • Allows data classification and counting.
  • Allows statistical models to be constructed, which help in explaining what is being observed.
  • Generalizes findings for a larger population and direct comparisons between two different sets of data or observations.
  • Produces statistically reliable results.
  • Allows discovery of phenomena which are likely to be genuine and merely occurs by chance.

Incorrect Answers:
A: Risk factors are expressed in terms of high/medium/low in qualitative analysis, and not in quantitative analysis.