Defined as the satisfaction a person receives

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Part A: Utility can be defined as the satisfaction a person receives from a product or service. The more the good or service is consumed, the total utility also increases. Calculations of utility for the three different selection methods are given below. Based on the data given in the question, among 120 job applicants and 25 persons have been selected. To find out which method has to be used in the future for selection we will have to calculate the utility for all the three methods to check and compare the cost to the company. Below are the calculations for the 1st set of data. A

Reference no: EM13718733

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