A manufacturing plant that produces widgets wants to locate in a new community. The plant personnel officer advertises the employment opportunity and the next morning has 10,000 people waiting to apply for the 1,000 available jobs. It is important to select the 1,000 people who make the best employees because training takes time and money and firing is difficult and bad for community relations. The company has decided that in order to be profitable, a certain level of production must be maintained. As personnel officer you want to construct a regression model that will provide you with the necessary data for making a quality decision.
Question: In general terms, what plan would you devise that would provide adequate information for hiring the appropriate employees?
When you construct a regression model, you put in variables that impact your model. Here are some of the variables that I think will be beneficial to include to provide info in helping select a candidate.
- number of years the employee has been working: This will be a big element in the analysis. The longer they have been working, hopefully they will have better skills for the job
- industry that they worked in: this company makes widgets, so ideally, we would want to find a person ...
The solution assists in creating a plan with adequate information for hiring appropriate employees.