The Most Common Appraisal Error Is __________, and Managers Often

question 52

Short Answer

The most common appraisal error is __________, and managers often realize they are committing this error.

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Definitions:

Mean

The mean value, determined by dividing the total sum of numbers in a series by the quantity of numbers in that series.

Median

The middle value in a sorted list of numbers, or the average of the two middle numbers when the list has an even number of entries.

Standard Deviation

An approach to quantifying how much a group of numbers disperses or varies from each other.

Mean

The arithmetic average of a set of numbers, calculated by adding them together and dividing by the number of values.