Chapter Six

Cut-points and Specificity vs. Sensitivity

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a. A cut-point is any point on a continuous scale we use to define a separation between states or conditions. b. Examples: High blood pressure, Failing grades, Psychological conditions based on tests, Recessions. c. Cut-points aren’t arbitrary (usually). But they always involve some non-numerical judgment on what is important. d. In the context of comparison, […]

Percent vs. Percentiles

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a. Pretty standard – getting students to understand what the difference is between these, and when to use each. b. Example: On the retest I jumped from the 40th percentile to the 90th. What does that mean? What does that not mean?

corporate tax rate

Net vs. List, Effective vs. Statutory Cost

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When we are measuring the price of anything, it’s tempting to measure “list” price — that is, what the asking price of a thing is. In many cases that’s fine — the asking price for a two liter of Diet Coke is most likely the same as the selling price. So if we average what […]