Best writers. Best papers. Let professionals take care of your academic papers

Order a similar paper and get 15% discount on your first order with us
Use the following coupon "FIRST15"
ORDER NOW

After winning $2 million in the New England lottery, 32-year old Randy May found an investment opportunity in a small business to develop a continual stream of earnings for his future. After much deliberation, May decided on opening a chain of ice cream shops in the Cape Cod area, one on Nantucket, the other on Martha’s Vineyard, and two more on the Cape.

After winning $2 million in the New England lottery, 32-year old Randy May found an

investment opportunity in a small business to develop a continual stream of earnings for his future.

After much deliberation, May decided on opening a chain of ice cream shops in the Cape Cod

Need assignment help for this question?

If you need assistance with writing your essay, we are ready to help you!

OUR PROCESS

Order

Payment

Writing

Delivery

Why Choose Us: Cost-efficiency, Plagiarism free, Money Back Guarantee, On-time Delivery, Total Сonfidentiality, 24/7 Support, 100% originality

area, one on Nantucket, the other on Martha’s Vineyard, and two more on the Cape. Once the

construction process was underway, Randy then had to figure out how to staff the shops. He

determined that 50 employees total were needed to staff all four locations. Each employee would

be paid $8 per hour, equaling $16,000 in income over the course of a year.

Unfortunately, being new to this process, Randy did not know how to handle this type of

human resource (HR)/staffing process. He consulted with two professionals that he knew

personally. Both individuals suggested utilizing the interview process, but one of the consults

also suggested utilizing a work sample test in addition to the interview process. The interview

process would cost $100 per applicant; the work sample would cost $150 per applicant.

However, when looking at the validity, the work sample would be more valid coming out at

r=.50. If selecting the method that would result in a validity of .50, the average score on this

selection measure would be z=.80, which is the standard deviation among the mean. Given all of

this information Randy came to a crossroads, unsure of how which selection measure would be

best for his company, budget, and overall goals.

 

Questions:

 

1. How much money would Randy make using each selection method?

2. If Randy can use only one method, which should he use?

3. If the number of applicants increases to 200 (more applications are coming in every

day), how will your answers to questions 1 and 2 change?

4. What limitations are inherent in the estimates you have made?

“Order a similar paper and get 15% discount on your first order with us
Use the following coupon
“FIRST15”

Order Now