(LO 7-2, LO 7-3) Match the diagnostic analytics to an example or definition. Diagnostic Analytics Sunk cost...

(LO 7-2, LO 7-3) Match the diagnostic analytics to an example or definition.

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Diagnostic Analytics Sunk cost fallacy Sequence check Two-sample t-test difference of means Variance analysis Outlier Diagnostic Analytics Example/Definition Analytics to see if we can find all of the skipped purchase order numbers. An observation that lies outside its expected distribution. Test used to evaluate if accounting profits are greater at manufacturing firms as compared to retailing firms. The price variance is favorable, but the quantity variance is not favorable. Difficulty cutting out unprofitable products.