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A note on the success ratio and the utility of fixed hiring rate personnel selection decisions

(1999) JOURNAL OF APPLIED PSYCHOLOGY. 84(6). p.952-958
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Abstract
Using simple simulation methods, the author verifies that the formulas used to estimate both the expected success ratio of a selection and the expected average criterion score of the selectees overestimate the real gain one may expect to obtain when hiring a preestablished proportion of employees from a finite sample of applicants. To correct for this deficiency, the present article shows how an exact estimate of the expected payoff can be obtained. In addition, it indicates how the new approach can be used to assess the sampling variability of the utility estimates.
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Chicago
De Corte, Wilfried. 1999. “A Note on the Success Ratio and the Utility of Fixed Hiring Rate Personnel Selection Decisions.” Journal of Applied Psychology 84 (6): 952–958.
APA
De Corte, Wilfried. (1999). A note on the success ratio and the utility of fixed hiring rate personnel selection decisions. JOURNAL OF APPLIED PSYCHOLOGY, 84(6), 952–958.
Vancouver
1.
De Corte W. A note on the success ratio and the utility of fixed hiring rate personnel selection decisions. JOURNAL OF APPLIED PSYCHOLOGY. 1999;84(6):952–8.
MLA
De Corte, Wilfried. “A Note on the Success Ratio and the Utility of Fixed Hiring Rate Personnel Selection Decisions.” JOURNAL OF APPLIED PSYCHOLOGY 84.6 (1999): 952–958. Print.
@article{119332,
  abstract     = {Using simple simulation methods, the author verifies that the formulas used to estimate both the expected success ratio of a selection and the expected average criterion score of the selectees overestimate the real gain one may expect to obtain when hiring a preestablished proportion of employees from a finite sample of applicants. To correct for this deficiency, the present article shows how an exact estimate of the expected payoff can be obtained. In addition, it indicates how the new approach can be used to assess the sampling variability of the utility estimates.},
  author       = {De Corte, Wilfried},
  issn         = {0021-9010},
  journal      = {JOURNAL OF APPLIED PSYCHOLOGY},
  keyword      = {RISK},
  language     = {eng},
  number       = {6},
  pages        = {952--958},
  title        = {A note on the success ratio and the utility of fixed hiring rate personnel selection decisions},
  url          = {http://dx.doi.org/10.1037//0021-9010.84.6.952},
  volume       = {84},
  year         = {1999},
}

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