Which of the Following Is an Advantage of Skill-Based Pay

question 40

Multiple Choice

Which of the following is an advantage of skill-based pay plans?

• A)They guarantee a low rate of employee turnover.
• B)They aid in deploying workers in a way that better matches the work flow.
• C)They are less expensive than job-based plans.
• D)They are viewed more favorably by courts than any other type of pay plans.

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Definitions:

Variance

A statistical measurement that represents the dispersion of a dataset relative to its mean, used to quantify the spread of data points.

Regression

A statistical method for estimating the relationships among variables, often used for prediction and forecasting in finance.

Correlation Coefficient

A statistical measure that calculates the strength of the relationship between two variables, ranging from -1 to 1, where 1 indicates a perfect positive correlation and -1 indicates a perfect negative correlation.

Standard Deviation

A statistical measure that represents the dispersion or variability of a data set or investment returns, indicating how much the values in the set deviate from the mean.