6. Individual Problems 1?-6 The HR department is tnring to ll a vacant position for ajob with a small talent pool. Valid applications arrive every week or so. and the applicants all seem to bring dierent levels of atpertise. For each applicant. the HR manager gathers information bytrying to verify various claims on the candidate's rv'um. but some doubt about \"t" always lingers when a decision to hire or not is to be made. Suppose that hiring an employee who is a bad t for the company.r results in an error cost of $700, but failing to hire a good employee Bulls in an error costo'F $542M] to the company. Although it is impossible to hell in advanoe WhEtl'El' an employee is a good lit, assume that the probability that an applicant is a "goocl t" is 0.8, while the probability that an applicant is a \"bad t\" is l. [LE 2 0.2. Hiring an applicant who is a good t, as well as not hiring an applicant who is a bad t... results in no error cost to the company. For each decision in the Following table, calculate and enter the expected error cost" oFtnat decision. Realityr Gun-d Flt Bad Frt Decision [1203 [120.2 Expected Efl'lll' Cost Hire Cost: 0 Cost: an Do Not Hire Cost: $500 Cost: 0 Suppose an otherwise qualied applicant appli for a job. In order to minimize expected error oosls. the HR department should 7 the applicant