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Compute Probabilities of a Poisson Random Variable
-A history professor finds that when he schedules an office hour at the 10:30 a.m. time slot, an average of three students arrive. Use the Poisson distribution to find the probability that in a randomly selected office hour in the 10:30 a.m. time slot exactly five students will arrive.
Equal Pay Act
Legislation requiring that men and women be given equal pay for equal work in the same establishment.
Seniority System
A workplace policy in which decisions on promotions, layoffs, and other job-related conditions are made based on an employee's length of service.
Job Ranking Method
A simple system of job evaluation used to rank jobs in an organization in order of their importance or complexity.
Factor Analysis Method
A statistical technique used to identify underlying variables, or factors, that explain the pattern of correlations within a set of observed variables.
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