question archive You have 500 applicants for 200 job openings
You have 500 applicants for 200 job openings
Subject:MathPrice: 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 =
1)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?
2)Using the utility formula, how much money does your current test, the Robson Math Test, save the company over using no test at all?
3)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?
