What is relative difference in payoff between two procedures

Assignment Help Applied Statistics

Reference no: EM131697072

Q1. Use the Taylor-Russell tables to solve these problems by filling in the following table:

Validity	SR	BR	Success Ratio
0.25	0.20	0.30
0.55	0.70	0.80
0.20	0.70	0.80
0.10	0.50	0.50
0.55	0.50	0.50

Q2. Use the Naylor-Shine tables to solve these problems by filling in the following table:

r_xy	Φ_i	z_xi	z-bar_yi
0.35	0.7019
0.22		-0.30
0.47			0.65
-0.47			0.65

Q3. Using the Brogden-Cronbach-Gleser continuous-variable utility model, what is the net gain over random selection (ΔU overall and per selectee), given the following information?

Quota for selection: 20

SR: 0.20

SD_y (standard deviation of job performance expressed in dollars): $30,000

r_xy: 0.25

C_y: $35

Hint: To find N the number recruited, divide the quota for selective by the SR.

Q4. Given the following information on two selection procedures, and using the Brogden-Cronbach-Gleser model, what is the relative difference in payoff (overall and per selectee) between the two procedures? For both procedures, quota = 50, SR = 0.50, and SD_y = $45,000.

r_y1: 0.20 C₁: $200

r_y2: 0.40 C₂: $700

Q5. You are a management consultant whose task is to do a utility analysis using the following information regarding secretaries at Inko, Inc. The validity of the secretarial Aptitude Test (SAT) is 0.40, applicants must score 70 or better to he hired, and only about half of those who apply actually are hired. Of those hired, about half are considered satisfactory by their bosses. How selective should Inko be to upgrade the average criterion score of those selected by Z^- = 0.5? What utility model did you use to solve the problem? Why?

Reference no: EM131697072

Questions Cloud

Write the truncated inorder walk that constructs the array : Write truncated inorder walk that constructs array of singleton nodes and subtrees. Use gdb to examine this array and to make sure that the array constructed

Determine the tree for the ex-dividend stock price : The stock pays a $5 dividend at the third node. In each case, determine the tree for the ex-dividend stock price.

Price of the firm perpetual preferred stock : what is the price of the firm's perpetual preferred stock? Round your answer to the nearest cent. Do not round intermediate calculations.

Determine the tree for a european put : We use binomial trees to value American-style options on the British pound. Assume that the British pound is currently worth $1.40. Volatility is 20%.

What is relative difference in payoff between two procedures : Given the following information on two selection procedures, and using the Brogden-Cronbach-Gleser model, what is the relative difference in payoff

An application of game theory to your organization : an application of game theory to your organization. First read about simultaneous and sequential game theory to be able to choose which one to use

Percent rate of return on similar investments : What is one share of this stock worth to you if you require a 10.0 percent rate of return on similar investments?

What is the new market cap : Finally, it does a 35-for-1 stock split. Nothing else changes. What's the new market cap?

Explain technique for developing prototype of user interface : Describe techniques for developing prototypes of user interfaces. You must add at least 5 critical issue UI design items to your interface. Remember to ensure

User Account

All Pages