The Percentages Included in Expectancy Tables Refer to the Number

question 7

Multiple Choice

The percentages included in expectancy tables refer to the number of

• A) tests administered versus tests passed.
• B) people obtaining a particular test-score/criterion-score combination.
• C) items the test developer expects will be sufficient for the item pool.
• D) people who are expected to pass the test but may not be successful at the criterion.

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Definitions:

Gross Profit Method

An inventory costing method that estimates the cost of goods sold and ending inventory based on the gross profit margin.

Inventory Valuation

The method used to calculate the cost of goods sold and ending inventory, such as FIFO, LIFO, or weighted average cost.

Casualty

An unexpected or sudden event causing loss or damage, often used in insurance to refer to accidents or mishaps causing physical harm or property damage.

Retail Basis

A method of inventory accounting where inventory is valued at retail prices, then converted to a cost basis using a predetermined cost-to-retail ratio.