What Is the Name Given to an Agreement That Results

question 12

Multiple Choice

What is the name given to an agreement that results from the actions of the parties rather than an exchange of specific promises?

• A) Express contract
• B) Void contract
• C) Implied contract
• D) Unenforceable contract

Distinguish between individual- and group-level pay performance systems.

Analyze the role of unions and organizational considerations in compensation planning.

Assess the suitability of different pay plans based on organizational goals and employee roles.

Understand the implications of gain-sharing and goal-sharing programs.

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Definitions:

Standard Deviation

A metric that calculates how much a dataset's values deviate or spread out from the average.

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter, expressed at a certain confidence level.

Mean

The mean of a collection of numbers, found by summing up all values and then dividing by the total count of those values.

Standard Deviation

A measure of the amount of variation or dispersion in a set of values.