Scribe Engineering, an Information Technology Company, Recently Made a Costly

question 67

Multiple Choice

Scribe Engineering, an information technology company, recently made a costly screening error when it underestimated the potential of a software engineer, resulting in a no-hire decision.The applicant accepted a position with a competing organization and developed a new, leading-edge software, taking away substantial market share from Scribe Engineering.What is this error called

• A)a false positive
• B)a false negative
• C)a positive error
• D)a negative error

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Definitions:

Total Variable Cost

The sum of all variable costs (costs that change with the level of output) involved in producing a particular quantity of output.

Average Variable Costs

The total variable costs (costs that change with the level of output) of production divided by the quantity of output produced.

Best Combination

The optimal mix of goods or strategies that maximizes satisfaction or utility given constraints like budget or resources.

Inputs

Resources such as labor, materials, and capital that are used in the production process to create goods and services.