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A scatter diagram can be used to see
Market Pay Line
A graphical line in a compensation analysis showing the relationship between the job's importance or level and the average market pay rate for that job.
"Goodness Of Fit"
A statistical measure that evaluates how well a model or hypothesis matches observed data or outcomes.
Pay Range
The spectrum of wages set by an organization for a specific job or role, establishing the minimum and maximum salary for positions.
Pay Grade
A classification system that determines the level of compensation for jobs based on their responsibilities, complexity, and required qualifications.
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