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If four items are chosen at random without replacement from seven items, in how many ways can the four items be arranged, treating each arrangement as a different event (i.e., if order is important) ?
Pay Flexibility
The ability of an employer to adjust wages based on performance, market conditions, or other factors.
Seniority-Based
A system where decisions regarding layoffs, promotions, and other job-related benefits are made based on the length of time an employee has worked at an organization.
Merit Bonuses
Compensation rewards given to employees based on their performance, as a way to incentivize higher productivity or achievement of certain goals.
Skill-Based Pay
A compensation system that bases employee pay on the skills and knowledge they possess, rather than their job position or title.
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