Statistical Error: Regression to the mean Definition: In any event where luck or chance is involved, extreme...

90.2K

Verified Solution

Question

Basic Math

Statistical Error: Regression to the mean
Definition: In any event where luck or chance is involved,extreme outcomes are followed by more moderate ones.
1. Provide a Human Resource decision that has to be made as anexample to regression to the mean.
2. Errors typically occur because the data used to make thedecision is flawed in some way. What flawed data could lead to theerror for this decision?
3. Think about what data could be used instead (to avoid theerror: regression to the mean)?
4. What parameter or statistic will you use to represent thedataset?
5. How could this help avoid the error?

Answer & Explanation Solved by verified expert

4.2 Ratings (660 Votes)

1 The human resource decision that has to be which is perfect example of regression to mean is the hiring process wherein the company hires an employee based on the recommendation of an existing employee If for instance the first time the existing employee See Answer

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member