In testing and assessment, Utility refers to the practicality or usefulness of a tool to improve efficiency.
Utility analysis is a family of techniques entail a cost–benefit analysis designed to yield information relevant to a decision about the
usefulness and/or practical value of an assessment.
Expectancy Data - An expectancy table can provide an indication of the
likelihood that a testtaker will score within some interval of scores on a
criterion measure—an interval that may be categorized as “passing,”
“acceptable,” or “failing.”
Brogden-Cronbach-Gleser formula -It is for the dollar amount of a utility gain resulting from the use of a particular selection instrument under specified conditions.
Relative cut score may be defined as a reference point that is set based on norm-related considerations rather than on the relationship of test scores to a criterion.
Fixed cut score is a reference point that is typically set with reference
to a judgment concerning a minimum level of proficiency required to be included in a particular classification.
Multiple cut scores refers to the use of two or more cut scores with reference to one predictor for the purpose of categorizing testtakers.
Multiple hurdles may be thought of as one collective element of a multistage decision-making process in which the achievement of a particular cut score on one test is necessary in order to advance to the next stage of evaluation in the selection process.
Compensatory model of selection is when an assumption is made that high scores on one attribute can, in fact, “balance out” or compensate for low scores on another attribute.