Estimate SDy from percentile judgments

Implements the percentile approximation SDy = (P85 - P15) / 2.

Usage

sdy_percentile(p15, p85)

Arguments

p15

Estimated monetary value of performance at the 15th percentile.

p85

Estimated monetary value of performance at the 85th percentile.

Value

Estimated standard deviation of job performance in monetary units.

References

Bobko, P., Karren, R., & Parkington, J. J. (1983). Estimation of standard deviations in utility analyses: An empirical test. Journal of Applied Psychology, 68, 170-176.

Schmidt, F. L., Hunter, J. E., McKenzie, R. C., & Muldrow, T. W. (1979). Impact of valid selection procedures on work-force productivity. Journal of Applied Psychology, 64, 609-626.

Examples

# Literature: Schmidt et al. (1979); Bobko, Karren, and Parkington (1983).
sdy_percentile(p15 = 60000, p85 = 140000)
#> [1] 40000