Which of the Following Statements Is True of Pay Surveys

question 43

Multiple Choice

Which of the following statements is true of pay surveys?

• A) Individual employees should not have access to the data collected from these surveys.
• B) They are the most commonly used source of information for internal equity.
• C) Large firms design their own pay surveys to get the exact data they need.
• D) The jobs that are the focus of these surveys should be niche jobs.

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Definitions:

Actual Data Points

The real, observed values or measurements recorded during an experiment or study.

Fitted Values

Predicted values calculated from a statistical model, used to compare against actual values observed in the data.

Simple Linear Regression Model

A statistical method for modeling the relationship between a single independent variable and a dependent variable by fitting a linear equation.

Slope

In mathematics, the slope of a line is a number that describes both the direction and the steepness of the line, often calculated as the rise over run in linear functions.