4. Probability
Basic Concepts of Probability
Struggling with Statistics for Business?
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Which of the following uses statistical or judgmental methods to predict future shortages or surpluses of human resources?
A
Human resource forecasting
B
Job analysis
C
Recruitment
D
Performance appraisal
Verified step by step guidance1
Step 1: Begin by understanding the key terms in the question. 'Statistical methods' refer to techniques that use data analysis, mathematical models, and historical trends to make predictions. 'Judgmental methods' involve expert opinions and subjective assessments to forecast outcomes.
Step 2: Analyze the options provided: 'Human resource forecasting,' 'Job analysis,' 'Recruitment,' and 'Performance appraisal.' Consider which of these processes involves predicting future shortages or surpluses of human resources.
Step 3: Recognize that 'Human resource forecasting' is a process specifically designed to predict future human resource needs, using both statistical and judgmental methods. It involves analyzing trends in employment, turnover, and organizational growth to anticipate staffing requirements.
Step 4: Contrast this with the other options: 'Job analysis' focuses on identifying the responsibilities and requirements of specific roles, 'Recruitment' involves attracting and hiring candidates, and 'Performance appraisal' evaluates employee performance. None of these directly involve forecasting future shortages or surpluses.
Step 5: Conclude that the correct answer is 'Human resource forecasting,' as it aligns with the use of statistical and judgmental methods to predict future human resource needs.
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