question archive You have 500 applicants for 200 job openings
Subject:PsychologyPrice: Bought3
proposed test, the Reilly Statistical Logic Test, is .35, and the test costs $10 per applicant to administer. You have 1,000 current employees, 700 of whom are satisfactory. The salary for the position is $42,000, and the typical employee stays for four years. Currently, you are using the Robson Math Test with a validity of .25 that costs $8 per applicant to administer. Be sure to show your calculations.
a. Selection ratio =
b. Base rate =
c. Tenure =
d. SD$ =
e. m =
-On the basis of the Taylor-Russell Tables, what percentage of future employees will be successful when the current test is used vs. when the proposed test is used?
-Using the utility formula, how much money does your current test, the Robson Math Test, save the company over using no test at all?
-Using the utility formula, how much money does your proposed test, the Reilly Statistical Logic Test, save the company over using no test at all?