Giving an Employee a Pay Increase Based on How Well

question 18

Multiple Choice

Giving an employee a pay increase based on how well they have performed over the course of the last evaluation period is known as a:

• A) COLA.
• B) commission.
• C) variable pay.
• D) merit increase.
• E) skill-based pay plan.

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Definitions:

Ogive

A graphical representation of the cumulative frequency or cumulative relative frequency on a graph, often used in statistics.

IQR

The interquartile range (IQR) is a measure of statistical dispersion, representing the difference between the 75th (upper quartile) and 25th (lower quartile) percentiles of a data set.

Median

The median is the central number in a sequence of values, dividing the higher half and the lower half of the data set.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources, such as crops, minerals, or water; immovable property of this nature.