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WorldatWork C3E - Quantitative Principles in Compensation Management

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Total 54 questions

If you earn 50,000 per year and your co-worker in the same job earns 60,000, what percent adjustment do you need to equal your co-worker?

A.

18%

B.

20%

C.

10%

D.

80%

For the same problem set, what should your organization pay for an entry-level production-manual editor, a job that has been determined to be worth 500 job evaluation points. y = 15000 + 50x

A.

50,000

B.

15,000

C.

25,000

D.

40,000

Which of the following is a characteristic of a standard deviation?

A.

The standard deviation is based on the middle portion of the data.

B.

The standard deviation reflects the variation of values between two points.

C.

The standard deviation uses all the data points from the data set in its calculation

D.

At least 95% of the points in a data set will always be within +-2 standard deviations from the mean.

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?

A.

50

B.

15000

C.

500

D.

550

What is interpolation?

A.

A value that a given percent of the data is less than

B.

An exact value representing a remainder

C.

A whole number that represents the sum of a data set

D.

A statistical representation of standard deviation

An executive is hired at 80,000/yr. His is guaranteed a 6,000 salary increase after 6 months. What % increase is that?

A.

6.0%

B.

6.5%

C.

7.0%

D.

7.5%