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If one score is randomly selected from a normal distribution with µ = 100 and σ = 20,the probability of obtaining a score less than X = 130 is p = 0.9987.
Base Pay
The initial salary paid to an employee, not including any extra bonuses, benefits, or raises.
Merit Pay
A compensation strategy where employees receive salary increases or bonuses based on their performance evaluations, aimed at rewarding high-quality work.
Incentive Pay
Additional compensation awarded to employees as a means of encouraging increased productivity or performance.
Subjective Performance
An evaluation of an employee's work based on personal judgments or opinions, rather than measurable outcomes or metrics.
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