Give your assessment of the relative costs of Type I and Type II errors in the following situations where a decision is pending: a. A new synthetic feed additive is….
. Do you have any obligation to tell Bernardo if you apply for the job?
You are in your last semester of college and have been looking for a job. You have registered with the placement office and posted your resume online, but the jobs that are available leave a bit to be desired. In one of your classes you overhear a classmate, Bernardo, talking about an interview he had last week. Bernardo said that he really wanted the job but didn’t think his interview went particularly well. He is currently waiting to hear back from the employer. As Bernardo was describing the position, you thought it sounded very interesting, but you wondered if it would be right for you to pursue the position since Bernardo had found it first.
1. Should you apply for the job? Should you wait until Bernardo hears from the employer? 2. Do you have any obligation to tell Bernardo if you apply for the job? 3. If you interview for the job, how would you respond if asked how you heard about the opening?