Explain Why Employers Might Not Be Enthusiastic About Employee Requests

question 48

Essay

Explain why employers might not be enthusiastic about employee requests for pay raises, aside from obvious reasons of the cost of the pay raise itself.

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Definitions:

Forward Selection

A stepwise regression approach where variables are sequentially added to the linear model based on their statistical significance in explaining the outcome variable.

Backward Elimination

A method in statistical model building where all variables are included at the start and then removed one by one based on some criteria.

F Statistic

A ratio used in ANOVA tests to determine if the variances between means of several groups are significantly different.

SST

Stands for "Sum of Squares Total," a measure in statistics that quantifies the total variation in a dataset.