Examlex
Larger, long term organizations generally use simple pay structures due to the number of positions and pay grades that it would have to keep track of.
Effect Size
A quantitative measure of the strength of a phenomenon or the magnitude of a difference between groups in a statistical analysis.
Significance Level
A threshold used in hypothesis testing that determines the probability of rejecting a null hypothesis when it is actually true.
Type I Error
The incorrect rejection of a true null hypothesis, also known as a "false positive."
Type II Error
The error that occurs when a statistical test fails to reject a false null hypothesis, also known as a "false negative."
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