ECO 550 Week 7 Discussion board New

 ECO 550 Week 7 Discussion board New

This week's discussion focuses on decision error costs with regard to hiring new talent. Use the provided scenario as a basis to inform your post on decision-making impacts and Type I and Type II errors.

Instructions

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 résumés, but some doubt about fit always lingers when a decision to hire or not to hire is made.

For your discussion post, address the following within the context of the scenario:

·         What are the Type I and Type II 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?

https://hwacer.com/Tutorial/eco-550-week-7-discussion-board-new/

Note: In your discussion posts for this course, do not rely on Wikipedia, Investopedia, or any similar website as a reference or supporting source.

To earn full credit for your discussion, you must complete one post and one follow-up or reply to a classmate. Make sure both the post and the reply focus on the questions asked.

Clarification on policy on references.  In general you will not actually need a reference to reply to a discussion.  These are problem solving exercise. You are creating a solution, but you may chose to use a reference.  If you do use a reference, it must be an academically credible reference.  Remember that the reference you select is part of your credibility.  Never use investopedia, wikipedia, or any other predia.  These are not acceptable.  Use of one of these will mean zero credit on the exercise.

Second, the discussions are a learning activity.  We will assess your progress on the topic, but that is not a grade.  If you have not mastered all the insights, you will find feedback to help you improve your understanding.  Use that to do additional post to improve and we will re-assess our evaluation.