Which of the following factors make statistical approaches to combining predictor scores superior?
A)Bounded rationality
B)Managers' tendency to base their opinions on large sample studies
C)Personal biases
D)A and B
E)A and C

Question

Quizplus · Accepted Answer

Statistical approaches to combining predictor scores are considered superior due to factors like bounded rationality and personal biases. Bounded rationality refers to the limitations on human decision-making caused by the complexity of the world and the limitations of the human mind. Personal biases can skew decision-making away from what large sample studies and empirical evidence might suggest. Statistical methods help mitigate these issues by providing a systematic and objective way to combine and analyze data, reducing the impact of individual biases and cognitive limitations.

Which of the Following Factors Make Statistical Approaches to Combining