How can compensation professionals ensure their statistical data are not distorted?
Why do compensation professionals collect & use data?
For the same problem set, the market appears to be paying entry-level buyers 42,500. Approx how many job evaluation points should your entry-level buyer position be worth to your org, assuming the regression model provides a good fit, based solely on the linear model of y = 15000 + 50x?
You have the following salary grades and midpoints. Your org wants to have a constant midpoint progression. What would be the midpoint percentage?
Grade 10 = Midpoint 2,000
Grade 11 = Midpoint 2,217
Grade 12 = Midpoint 2,456
Grade 13 = Midpoint 2,698
Suppose your monthly pay is 3,000. The mean for all employees in your grade is 3,500, and the standard deviation is 200. What is your z-score relative to this group of employees?
What type of relationship does this equation model?
y = a + bx + cx2
You have 660 hourly, 420 salaried non-management and 320 salaried management employees. What is the percentage of salaried non-management employees?
For the same problem set, what does the value 50 represent in the same equation? y = 15000 + 50x
Market based pay = Intercept + (slope) x (job worth). You have collected data and have quantified your model as follows: y = 15000 + 50x. The value of 15,000 in the model represents which of the following?
What does a correlation of +1.0 indicate?
