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A _____ Is a Pay Banding System Based on Regions

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A _____ is a pay banding system based on regions.


Definitions:

Simple Regression

A statistical method for quantifying the relationship between a single independent variable and a single dependent variable.

Intercept

In statistics and mathematics, the point at which a line crosses the y-axis in a graph, representing the value of the dependent variable when the independent variable is zero.

Error Term

The difference between observed values and estimated values in a statistical model.

Multicollinearity

A statistical phenomenon where two or more predictor variables in a multiple regression model are highly correlated, potentially distorting estimates.

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