C3e: Quantitative Principles In Compensation Management Quiz

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? (A) The slope of the line (B) The point where the line of best fit crosses the x-axis corresponding to a y-value of zero (C) The mean for y (D) The intercept for the line of best fit {Ans: (D) The intercept for the line of best fit}Which of the following should be used to determine the amount of interest earned on money over a specified period of time? (A) Percent difference (B) Percent adjustment (C) Compound interest (D) Compa-ratio {Ans: (C) Compound interest}A range can best be described as which of the following? (A) A measure of central tendency (B) The difference between the maximum value and the minimum value in a data set (C) A tool used to measure the variation of a data set based on the middle 50 percent of the cases (D) The only measure of variability appropriate for ratio data {Ans: (B) The difference between the maximum value and the minimum value in