Xavier Designs a Measure That Has Two Response Options, Either

question 120

Multiple Choice

Xavier designs a measure that has two response options, either yes or no. When he analyzes his data he is likely to find:

• A) his measure lacks sensitivity.
• B) his measure is overly sensitive.
• C) his measure has the optimum sensitivity.
• D) his measurement is vulnerable to too much observer bias.

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Definitions:

Comparative Advantage

The ability of an individual or group to produce a good or service at a lower opportunity cost than others, leading to more efficient trade possibilities.

Production Possibility

A graph showing the highest possible production levels of two items, using a specific combination of resources and various factors.

Opportunity Costs

Making a choice results in the loss of potential profit that could have been earned from choosing differently.

Increasing Opportunity

In economic terms, refers to the increasing cost associated with producing additional units of a good, implying that producing more of one good requires sacrificing increasingly larger amounts of another good.