Exhibit 14-3
Information for 26 colleges and universities in the state of Indiana is provided in the table below. The following questions contain a sequence of steps for executing the K-Means Clustering Method.
-Refer to exhibit 14-3 As a first step in grouping the Indiana colleges and universities into clusters,standardize the numeric measures.
Definitions:
Pay Equity Legislation
Laws designed to eliminate wage disparities between employees, particularly addressing and rectifying gender-based pay differences.
Compensable Factors
Elements of a job that are used to determine its value and appropriate compensation, such as skill level, effort, responsibility, and working conditions.
Pay Grades
A structured pay scale that determines the salary range for different levels of positions within an organization.
Labour Costs
The total expenditure borne by employers for the payment of wages, benefits, and other forms of compensation to their employees.
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