New Findings on Risk Management from Syracuse University Summarized (Incremental Sampling Methodology: Applications for Background Screening…

New Findings on Risk Management from Syracuse University Summarized (Incremental Sampling Methodology: Applications for Background Screening Assessments)

By a News Reporter-Staff News Editor at Insurance Weekly News -- Researchers detail new data in Risk Management. According to news reporting out of Syracuse, New York, by VerticalNews editors, research stated, "This article presents the findings from a numerical simulation study that was conducted to evaluate the performance of alternative statistical analysis methods for background screening assessments when data sets are generated with incremental sampling methods (ISMs). A wide range of background and site conditions are represented in order to test different ISM sampling designs."

Our news journalists obtained a quote from the research from Syracuse University, "Both hypothesis tests and upper tolerance limit (UTL) screening methods were implemented following U.S. Environmental Protection Agency (USEPA) guidance for specifying error rates. The simulations show that hypothesis testing using two-sample t-tests can meet standard performance criteria under a wide range of conditions, even with relatively small sample sizes. Key factors that affect the performance include unequal population variances and small absolute differences in population means."

According to the news editors, the research concluded: "UTL methods are generally not recommended due to conceptual limitations in the technique when applied to ISM data sets from single decision units and due to insufficient power given standard statistical sample sizes from ISM."

For more information on this research see: Incremental Sampling Methodology: Applications for Background Screening Assessments. Risk Analysis, 2017;():. (Wiley-Blackwell - www.wiley.com/; Risk Analysis - onlinelibrary.wiley.com/journal/10.1111/(ISSN)1539-6924)

Our news journalists report that additional information may be obtained by contacting P.S. Pooler, Syracuse University, Whitman School of Management, Syracuse, NY, United States. Additional authors for this research include P.E. Goodrum, D. Crumbling, L.D. Stuchal and S.M Roberts.

Keywords for this news article include: Syracuse, New York, United States, Risk Management, North and Central America.

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