Weighting factors based on expert judgment refers to:
A)pay policy weights.
B)empirical weights.
C)a priori weights.
D)ex post weights.

Question

Quizplus · Accepted Answer

Weighting factors based on expert judgment are a priori weights, which means they are established before data is collected, typically based on the opinions and insights of experts in the field. A priori weights are usually used when no empirical or objective data is available to inform the weighting process. Pay policy weights reflect an organization's compensation philosophy and usually involve a combination of internal and external factors. Empirical weights are based on statistical analysis of past performance data. Ex post weights are used after the fact to adjust for unforeseen circumstances or errors in the weighting process.

Weighting Factors Based on Expert Judgment Refers To