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Chapter 47: Item Response Theory for Management
In psychometrics, item response theory (IRT) is a body of theory describing the application of mathematical models to data from questionnaires and tests as a basis for measuring abilities, attitudes, or other variables. It is used for statistical analysis and, at its most basic level, it is based on the idea that the probability of getting an item correct is a function of a latent trait.
Formally, IRT models apply mathematical functions that specify the probability of a discrete outcome, such as a correct response to an item, in terms of person and item parameters. Item parameters include difficulty (location), discrimination (slope or correlation) and pseudoguessing (lower asymptote). Items may be questions that have incorrect and correct responses, ...