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Use Chebyshev s Inequality to Describe Any Set of Data
-If nothing is known about the shape of a distribution, what percentage of the observations fall within 3 standard deviations of the mean
Direct Payment
The monetary compensation paid directly to employees in the form of wages, salaries, commissions, and bonuses.
Goal-Sharing Plans
Incentive plans that reward employees for reaching specific organizational goals, similar to gain-sharing but often broader in scope.
Gain Sharing
A performance-based compensation strategy that rewards employees for contributing to their company's success through increased efficiency or profitability.
Historical Benchmark
A reference point derived from historical data against which current performance or achievements can be measured or compared.
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