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A suitable model of assessment (for example: narrative self-assessment, goal-based assessment, SWOT analysis or rating scales) appropriately credentialed staff to manage the process; A supported approach to the assessment (employees understand the process, are given time to engage with it and are motivated to)
Employment testing is the practice of administering written, oral, or other tests as a means of determining the suitability or desirability of a job applicant. The premise is that if scores on a test correlate with job performance, then it is economically useful for the employer to select employees based on scores from that test.
For normally distributed random variables inverse-variance weighted averages can also be derived as the maximum likelihood estimate for the true value. Furthermore, from a Bayesian perspective the posterior distribution for the true value given normally distributed observations and a flat prior is a normal distribution with the inverse-variance weighted average as a mean and variance ().
The rate of return on a portfolio can be calculated indirectly as the weighted average rate of return on the various assets within the portfolio. [3] The weights are proportional to the value of the assets within the portfolio, to take into account what portion of the portfolio each individual return represents in calculating the contribution of that asset to the return on the portfolio.
Inverse probability weighting is a statistical technique for estimating quantities related to a population other than the one from which the data was collected. Study designs with a disparate sampling population and population of target inference (target population) are common in application. [1]
Risk-based performance attribution decomposes the performance of a portfolio based on various risk factors or risk exposures (see factor analysis). For complex or dynamic portfolios, risk-based profit attribution may have some advantages over methods which rely only on realized performance. This may be the case for some hedge fund strategies. [23]
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If portfolio weights are largely a function of estimation errors, then Ex-post performance of a growth-optimal portfolio may differ fantastically from the ex-ante prediction. Parameter uncertainty and estimation errors are a large topic in portfolio theory. An approach to counteract the unknown risk is to invest less than the Kelly criterion.