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Reliability index is an attempt to quantitatively assess the reliability of a system using a single numerical value. [1] The set of reliability indices varies depending on the field of engineering, multiple different indices may be used to characterize a single system.
A test score is a piece of information, usually a number, that conveys the performance of an examinee on a test. One formal definition is that it is "a summary of the evidence contained in an examinee's responses to the items of a test that are related to the construct or constructs being measured."
If the correlation between separate administrations of the test is high (e.g. 0.7 or higher as in this Cronbach's alpha-internal consistency-table [6]), then it has good test–retest reliability. The repeatability coefficient is a precision measure which represents the value below which the absolute difference between two repeated test results ...
Proportional reduction in loss (PRL) is a general framework for developing and evaluating measures of the reliability of particular ways of making observations which are possibly subject to errors of all types. Such measures quantify how much having the observations available has reduced the loss (cost) of the uncertainty about the intended ...
Failure rate is the frequency with which any system or component fails, expressed in failures per unit of time. It thus depends on the system conditions, time interval, and total number of systems under study. [1]
KPI information boards. A performance indicator or key performance indicator (KPI) is a type of performance measurement. [1] KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages. [2]
NAIC’s complaint index shows the number of complaints lodged against a company, broken down by product line. With a benchmark index of 1.0, anything above that indicates a higher number of ...
A loss of $0.05 is perceived as having a greater utility loss than the utility increase of a comparable gain. In cognitive science and behavioral economics, loss aversion refers to a cognitive bias in which the same situation is perceived as worse if it is framed as a loss, rather than a gain.