question archive You have 500 applicants for 200 job openings

You have 500 applicants for 200 job openings

Subject:PsychologyPrice: Bought3

You have 500 applicants for 200 job openings. The validity of your

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?

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