PSYCHOLOGICAL ASSESSMENT: - Cost
UTILITY
Refers to disadvantages,
What is Utility? losses, or expenses in both
economic and non-economic
In psychometrics, it refers to
terms
how useful a test is
Relating expenditures
Refers to the practical value
associated with testing or not
of using a test to aid in
testing
decision making. Helping us
Ex. The cost of an X-Ray is
make better decisions –
$100, but what is the cost of
better.
not having the procedure
The usefulness or practical
done? Depending on the case
value of testing to improve
the cost of not testing might
efficiency
be unnecessarily pain and
Applicable and generizable to
suffering, disability, or worse.
anything from a single test to
Thoughtful considerations of
a large-scale testing program
possible pros and cons is
that employs a battery of
necessary in making the
tests.
decisions of testing or not.
Judgements concerning the
The same with Cost-Cutting.
utility of a test are made on
the basis of test reliability and - Benefits
validity data as well as on
Refers to profits, gains, or
other data.
advantages
Factors that affect a Test’s The cost of test
Utility administration can be well
worth it if the result is certain
A number of considerations
non-economic benefit, such
are involved in making a
as good work environment.
judgement about the utility of
Ex. Admission programs in
a test.
Universities. Educational
- Psychometric Soundness Institutions look for ways to
improve the way that they
If reliability and validity select an applicant for their
coefficients are acceptably program. Because it is to the
high, a test is credit of the University that
Psychometrically Sound. their graduates succeed in
Refers to both the reliability their chosen programs,
and validity of a test therefore, enhancing the
Test score have utility if their University’s reputation and
use in a particular situation sending a positive message
helps us make better about the University.
decisions—better
Higher criterion-related - Utility Analysis
validity=higher utility of the
Family of Techniques that
test
entail a cost-benefit analysis
designed to yield information
relevant to a decision about
the usefulness and/or
practical value of a tool of
assessment
Umbrella term covering
various possible methods of
analysis.
May be undertaken for the
purpose of evaluating
whether the benefits of using
a test outweighs the cost.
And education decision about
which of many possible
courses of action is optimal.
- Expectancy Table