utilityRbn: Raju-Burke-Normand Utility Model

In iopsych: Methods for Industrial/Organizational Psychology

Description

This utility model uses SD of job performance ratings rather than the SD of job performance in monetary units.

Usage

utilityRbn(n = 1, sdr, a, rxy, uxs = NULL, sr = NULL, pux = NULL,
  cost = 0, period = 1)

Arguments

n	The size of the applicant pool.
sdr	The standard deviation of ratings of job performance.
a	The average total compensation.
rxy	The correlation between the predictor composite and the criterion.
uxs	The average predicter score of those selected. If the uxs is unknown, the sr argument can used instead.
sr	A selection ratio or a vector of selection ratios.
pux	The expected average criterion score of selected applicants.
cost	The cost per applicant of a selection system.
period	The anticipated tenure of selected employees.

Value

Estimated gain in utility.

Note

This functions can except either (1) pux, (2) uxs and rxy, or (3) sr and rxy.

Author(s)

Allen Goebl and Jeff Jones

References

Raju, N.S., Burke, M.J. and Normand, J. (1990). A new approach for utility analysis. Journal of Applied Psychology, 75, 3-12.

Examples

utilityRbn(sdr=10000, a=90000, rxy=.50, sr=.30)

Example output

[1] 521538921

iopsych documentation built on May 2, 2019, 2:27 p.m.