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Quantitative Principles in Compensation Management

Last Update Dec 22, 2024
Total Questions : 54

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Quantitative Principles in Compensation Management Questions and Answers

Questions 1

If the midpoint is 2,000 and the desired range spread is 50%, what are the min and max values?

Options:

A.

1,500 min; 2,500 max

B.

1,600 min; 2,400 max

C.

1,700 min; 2,300 max

D.

1,750 min; 2,250 max

Questions 2

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

Options:

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.

Questions 3

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

Options:

A.

8%

B.

9.6%

C.

10.5%

D.

11.7%

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