As a newly hired Human Resources director for 'Quants R Us', you are provided with the following academic information for five (5) college graduates. The below table shows each students overall grade (range 0 to 100) for quantitative courses taken over their respective 4 year college career. Student/Year FR SO JR SR           A          68  73  80 87           B         79  76  86  84           C         75  78  83  88           D         74  88  80  85           E         80  83  85  86 (a) You are assigned the task of recommending which one of these college graduates should be offered a 3 year contract into the junior quantitative analyst in training program. Which student do you recommend? b) Your assignment is then changed to eliminate two of the candidates and offer three of these college graduates 3 year contracts into the junior quantitative analyst in training program. Which two students do you eliminate? (c) What are the limitations of your decisions? Provide the statistical analysis, calculations (tables graphs, etc.) utilized, along with the rationale behind your recommendations and offer decisions.

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.3: Conditional Probability; Independent Events; Bayes' Theorem
Problem 81E
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As a newly hired Human Resources director for 'Quants R Us', you are provided
with the following academic information for five (5) college graduates. The
below table shows each students overall grade (range 0 to 100) for quantitative
courses taken over their respective 4 year college career.


Student/Year FR SO JR SR
          A          68  73  80 87
          B         79  76  86  84
          C         75  78  83  88
          D         74  88  80  85
          E         80  83  85  86

(a) You are assigned the task of recommending which one of these college
graduates should be offered a 3 year contract into the junior quantitative analyst
in training program. Which student do you recommend?

b) Your assignment is then changed to eliminate two of the candidates and offer
three of these college graduates 3 year contracts into the junior quantitative
analyst in training program. Which two students do you eliminate?


(c) What are the limitations of your decisions?


Provide the statistical analysis, calculations (tables graphs, etc.) utilized,
along with the rationale behind your recommendations and offer
decisions.

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