Bb 32253169 X WP Chapter 15 Homework X WP Grades for Simran Bains: ACCT X Content X C a learn.humber.ca/ultra/courses/_186175_1/cl/outline Paused Update : L Quantitative Methods - BSTA-320-DOA Tests and Quizzes QUIZ Z - DECISIONI Z The hiring process at Queensway Staffing Agency is great, but far from perfect. Good X candidates are sometimes rejected and bad ones sometimes hired. Since the agency earns profits from hiring good candidates, they also incur losses when they hire a candidate that is fired within 6 months or when they fail to hire (reject) a good candidate. They used relative frequency to determine the probability of hiring a good candidate and presented their payoffs (in $'000) as follows: Good Bad Hire 12 -5.25 Reject -3.25 0 Probability 0.24 0.76 Note: Payoffs in the given table are in thousand dollars. The expected values required below are in dollars. X a) The expected monetary value of Hire is $ b) The expected monetary value of Reject is $ c) Using the expected value approach, is Queensway more likely to hire or reject a candidate? Reject Priv Ter