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A Popular and Prevalent Method Used in Many Different Industries

question 61

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A popular and prevalent method used in many different industries for motivating and compensating hourly,salaried,and executive personnel is:


Definitions:

Mean

The arithmetic average of a set of values or distribution.

Variance

A measure of the spread of a set of numbers, indicating how much the values differ from the mean of the set.

Standard Normal Random Variable

A normal distribution with a mean of zero and a standard deviation of one, used in z-score calculations.

Area

The size or dimensions of a land area or surface.

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