Critical Evaluation Flashcards
Statistical method that examines data from different points in time to determine if a variance is an isolated event or if it is part of a longer trend.
Trend analysis
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- Trend analysis describes patterns in the past and projects future conditions based on those patterns.*
- For example, HR can see when declines in certain types of degrees will become problematic for the organization and require a strategic response.*
Value that occurs most frequently in a set of data.
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Mode
Technique in which participants each suggest ideas through a series of rounds and then discuss the items, eliminate redundancies and irrelevancies, and agree on the importance of the remaining items.
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Nominal group technique (NGT)
Average of data that adds factors to reflect the importance of different values.
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Weighted mean
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- useful in situations where there are significant outliers in the spread of data*
- Example: HR could use this in assesing job candidates when some req. like certain degrees or credentials are considered to be more important than others*
Small group of invited persons (typically six to twelve) who actively participate in a structured discussion, led by a facilitator, for the purpose of eliciting their input.
Focus group
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Raw average of data that gives equal weight to all values, with no regard for other factors.
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Unweighted mean
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Type of analysis that starts with a result and then works backward to identify fundamental cause.
Root-cause analysis
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Comparing the sizes of two variables to produce an index or percentage; commonly used to analyze financial statements.
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Ratio analysis
Net profit margin, for example, is a ratio that compares net revenue with costs. Many commonly used HR metrics are ratios, such as the turnover rate (comparing the number of terminations or resignations in a time period with the average number of employees in that period).
Average score or value.
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Mean
Mean is synonymous with average
Middle value in a range of values.
Median (50th percentile, middle value in a range of values)
Preferred measure of central tendency
Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved.
Scenario/what-if analysis
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Distance of any data point from the center of a distribution when data is distributed in a “normal” or expected pattern.
Often shown as a “bell curve”
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Standard deviation
68% of data lies within one standard deviation
Example of it’s use on page 279 or Frequency Distributions
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Data-sorting technique in which group members add related ideas and indicate logical connections, eventually grouping similar ideas.
Mind mapping
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Statistical method for identifying the degree of difference between planned and actual performance or outcomes.
Variance analysis
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Technique that progressively collects information from a group of anonymous respondents.
Delphi technique
members work as a group without ever meeting
prevents “group think”
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Data-sorting technique in which a group categorizes and subcategorizes data until relationships are clearly drawn.
Affinity diagramming
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Statistical method used to determine whether a relationship exists between variables and the strength of the relationship.
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Regression analysis
EBDM
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evidence-based decision making
Steps in Evidence-Based Decision Making
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Ask ~ when faced w/a problem, translate the situation into a Q that can be answered through info gathering.
Aquire ~ Gather info from varied sources
Appraise ~ Is the evidence relevant, valid, reliable, accurate, complete, and unbiased?
Aggregate ~ Combine + organize data for analysis
Apply ~ Use data to draw conclusions, develop solutions, win support for and take action
Assess ~ Monitor the solution
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