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C3E Quantitative Principles in Compensation Management Questions and Answers

Questions 4

A survey shows the average pay for senior accounting clerks is 1,570/mth. Your midpoint for senior-accounting clerks is 1,670 and the average actual pay is 1,550. What is your compa-ratio for accounting clerks? What is your market index?

Options:

A.

.928 compa, .987 market

B.

.928 compa, 1.064 market

C.

.987 compa, 1.064 market

D.

.987 compa, 1.013 market

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Questions 5

What is the median of the following data?

7, 17, 3, 19, 13, 9, 7

Options:

A.

7

B.

9

C.

13

D.

11

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Questions 6

In order to satisfy ordinal level data requirements, you must be able to do which of the following?

Options:

A.

Have a true zero

B.

Have a constant interval from point to point

C.

Be able to meaningfully arrange the data in rank order

D.

Be able to establish ratios

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Questions 7

If the minimum is 2,000 and the desired range spread is 40%, what is the midpoint?

Options:

A.

2,000

B.

2,300

C.

2,400

D.

2,800

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Questions 8

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

Options:

A.

50,000

B.

15,000

C.

25,000

D.

40,000

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Exam Code: C3E
Exam Name: Quantitative Principles in Compensation Management
Last Update: May 18, 2024
Questions: 54
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