following utility function and believes that he has a 50-50 chance of winning‚ will he be willing to split? 3- An alternative has a probability 0.6 of winning $25‚000‚ 0.2 of winning $1‚000‚ and 0.2 of losing $50‚000. a) Determine the expected profit for this alternative. b) Determine the certainty equivalent for the alternative using the utility function ‚ where x is in thousands of dollars. c) What is the risk tolerance of the decision maker who has the utility function presented in part b.
Premium Risk aversion Utility
1. Definition of Job Analysis Job analysis is the systematic method of jobs to identify work activities‚ tasks‚ and responsibilities‚ KSAs‚ working conditions to perform the job. 2. Purpose of job analysis Purposes of job analysis are to identify: • Job description & specification • Recruitment and Selection: • Job evaluation • Job design • Compensation: • Performance Appraisal: • Training: • Compliance with labour law 3. Job analysis process Process of job analysis includes 8 steps
Premium Human resource management
Job Analysis Multiple Choice 1. _____ is the procedures through which one determines the duties associated with positions and the characteristics of people to hire for those positions. a. Job description b. Job specification c. Job analysis d. Job context e. None of the above (c; easy; p. 112) 2. The information resulting from job analysis is used for writing _____. a. job descriptions b. work activities c. work aids d. job context e. performance standards (a; easy; p. 112) 3. Which of the following
Premium Job description
Job Analysis I. What is Job Analysis? A. “a process used to identify the important tasks of a job and the essential competencies an individual should possess to satisfactorily perform the job.” (State of Colorado‚ 2002‚ http://www.colorado.gov/dpa/dhr/select/docs/jobanal.pdf). B. “a wide variety of systematic procedures for examining‚ documenting‚ and drawing inferences about work activities‚ worker attributes‚ and work context.” (Sackett & Laczo‚ 2003‚ p. 21). C. methods for learning about
Premium
study: Job analysis 1. Discuss why job analysis was an essential part of corporate change process at Bethphage. Job analysis played a very important part in conducting corporate change process at Bethphage due to some following reasons: ▪ Bethphage is an organization with a large size including approximately 3000 employees and several operating entities in 15 states and other foreign countries. Hence‚ the job distribution to all employees in an equal way and the management of job effectiveness
Premium Management Corporate governance
Job Analysis is the procedure through which you determine the duties of the positions to be staffed and the characteristics of people who should be hired for them. The analysis produces information on job requirements this information is then used for developing job descriptions and job specifications (i.e. jobs human requirements‚ or what kind of people to hire for the job). A supervisor or Human Resource (HR) specialist normally aims to collect one or more of the following types of information
Premium Human resource management Job description
I. Introduction Job evaluation or analysis is the process of systematically determining in detail the particular job duties and requirement‚ and the relative worth of a particular job. The evaluation is based on a combination of job content‚ skill required‚ value to the organization‚ organizational culture‚ and the external market. An important aspect in the Job Analysis is that the analysis is conducted on the job‚ a description or specification of the job‚ not a description of the person
Premium Employment Mortgage loan Interest
Application case 6-1 Job Analysis: Assistant Store Managers at Today’s Fashion Discussion Questions: 1. Critically evaluate the job analysis that Mary conducted for the position of assistant store manager. Has she appropriate methods? What are the strengths and weaknesses of her efforts? 2. What kinds of factors about Today’s Fashion and its operations should Mary have examined more seriously in order to improve her job analysis? 3. Carefully read the job description and job specification that Mary
Premium Interview Management
Job design determines the way work is organized and performed. Job design typically refers to the way that a set of tasks‚ or an entire position‚ is organized. The aim of job design is to improve job satisfaction‚ to improve quality and to reduce employee problems (e.g.‚ grievances‚ absenteeism‚ turnover etc).Good design incorporates the relationship with organizational goals and values and should be well understood in order to align and prioritize the job’s responsibilities. The design should:
Premium Management Organizational studies and human resource management Employment
Job Analysis Job analysis is the first step in designing and implementing a compensation system. The objective in completing a job analysis is to identify the content of the job‚ the knowledge and skills necessary to perform the job successfully and the conditions under which the job is performed. Job analysis may be defined as systematic detailed study of jobs‚ consisting of identifying and examining what is required of the person assigned to the job and the elements and characteristics
Premium