Student Solution

-->

"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

1 University

1 Course

1 Subject

Download Solution

Related Solution

Assignment 5_1663569...
1 When did you meet? How did you meet? Who attended the meeting? (please include names) Our group meeting was at 5pm and stopped around 5:30 after the conference. All group members attended the meetin...

Assignment 5
Assignment 5

1 When did you meet? How did you meet? Who attende

Innovation Managemen...
The eight primary elements can be taken into consideration while discussing entrepreneurship. the provided article also states that the power of intrapreneurship is immense. After reading the provided...

Innovation Management System
Innovation Management System

The eight primary elements can be taken into consi

M5D1_1632847078.docx
In the logistics industry, every function is performed at the expense of some of the other costs. Even customer satisfaction requires timely monitoring of goods and safe delivery which does not takes...

M5D1
M5D1

In the logistics industry, every function is perfo

Managerial Economics-DQ (1)

Managerial Economics-DQ

Q The HR department is trying to fill a vacant position for a job with a small talent pool. Valid applications arrive every week or so, and the applicants all seem to bring different levels of expertise. For each applicant, the HR manager gathers information by trying to verify various claims on resumes, but some doubt about fit always lingers when a decision to hire or not to hire is made. • What are the Type I and Two decision errors costs? • Which decision error is more likely to be discovered by the CEO? • How does this affect the HR manager's hiring decisions?

View Related Questions

Solution Preview

View Complete Solution
• In general, type I error occurs when one rejects the null hypothesis with the true value. In this case, if it can be assumed that the null hypothesis for this test is that the candidate is not suitable for the job, so type I decision errors would occur when an HR manager accepts the candidate who is not suitable for the job. On the other hand, type II error occurs when one accepts the null hypothesis with the false value. In this case, type II decision errors would occur when an HR manager rejects the suitable candidate by overlooking the potential of the candidate for the job ("What are type I and type II errors?", 2017).