A Data Point That Falls Outside the Majority of Data

question 39

Multiple Choice

A data point that falls outside the majority of data points is known as a(n) :

• A)mean
• B)outlier
• C)median
• D)variance
• E)range

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Definitions:

Gainsharing

A compensation strategy where employees receive benefits from improvements in the company's performance, such as increased productivity or cost savings.

Gainsharing

A performance-based compensation strategy that rewards employees for contributing to the company's success through efficiencies and improvements.

Group Incentive Plan

A compensation system designed to reward a group of employees based on the collective achievements or performance of the group.

Retention Bonus

A financial incentive offered to an employee to encourage them to stay with the company for a specified period.