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Explain the role of randomization in classical experiments.
Piece Rate Pay
A compensation system where employees are paid based on the quantity of work completed or the number of units produced.
Profit Sharing
A company policy of distributing a portion of its profits to its employees.
Cost Reductions
Strategies or actions taken to decrease expenses and improve financial efficiency.
Group Incentive Pay
A compensation system where a team of employees is rewarded collectively based on the group's overall performance.
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