Which of the Following Is an Advantage of the Multiple

question 44

Multiple Choice

Which of the following is an advantage of the multiple cutoffs selection decision making model?

• A)It narrows applicant pool to a smaller subset of qualified applicants
• B)It is less costly since applicant pool gets smaller at each stage
• C)It combines predictors optimally
• D)It minimizes error in prediction

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Definitions:

Statistics Canada

Canada's national statistical agency tasked with compiling data on the country's economy, society, and environmental conditions.

Alpha

In statistics, it represents the level of significance, marking the threshold for rejecting the null hypothesis; in finance, it denotes the active return on an investment compared to a benchmark index.

Power of the Test

The power of the test refers to the probability that the test correctly rejects a false null hypothesis, effectively detecting an actual effect when it exists.

Unemployment Rate

The rate of individuals in the workforce who are not employed but are seeking a job.