Using Taylor Russell & Utility Formula Instructions Below you will find description of a hypothetical employment situation; Use the information t0 determine how much money your organization will save if it adopts the proposed selection test: Keep in mind You will need t0 use the Taylor Russell tables in vour book for this question. have also provided the original Taylor Russell article on BB that has the tables that you need to use for this question Situation #I You have 500 applicants and 250 job openings. The validity of your proposed test; the Reilly Statistical Logic Test,is .40. The test costs S10 800 of per applicant t0 administer: You have i000 current emploves; position is S70,000. and the whom are satisfactory. The salary for the for four years. Currently, you are using the Tribble typical employee stays validity of .30 that costs SIS per applicant = t0 administer: Math Test with Be sure t0 show your calculations. of future On the basis of the Taylor-Russell Tables (Table 6.4), what percentage employees will be successful? your curTent- test the Tribble Using the utility formula; how much money does Math Test save the company over using no test at all? how much money does Your proposed test the Reilly Using the utility formula_ Statistical Logic Test save the company over using no test at all? Howsmuch money will your proposed test save when compared to the Tribble Math Test? Situation #2 What would the figures be ifno validity data were available but the_ current method of selection was an unstructured interview
costing S25 per applicant and the proposed method was = structured interview also costing S25 per applicant? (Hint: Use the observed validity coefficient for unstructured interviews found in Table 5.2 of yOur text) On the basis of the Taylor-Russell Tables_ what percentage of future employees will be successful? Using the utility formula, how much money docs your current test; the unstructured interview; save the company over using " no test at all? Using the utility formula, how much money does your proposed test the structured interview save the company over using no test at all? How much money will your structured interview save when compared to the unstructured interview?