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Explain the Low-High Approach in Selecting Jobs for Inclusion in a Compensation

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Explain the low-high approach in selecting jobs for inclusion in a compensation survey.


Definitions:

Area

Area describes the measure of the extent of a two-dimensional surface or shape, expressed in square units.

Continuous Variable

A variable that can take an infinite number of values within a given range, allowing for any value in the range, including fractions and decimals.

Normal Distribution

A bell-shaped frequency distribution curve that is symmetrical about the mean, representing the distribution of many types of data.

Normally Distributed

A dataset is normally distributed when it forms a symmetrical, bell-shaped curve around the mean, following the normal distribution pattern.

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