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Chapter 8Question 11 / 1 pointYou work in a midsize organization and have just conducted a wage survey. Five midsize companies have provided wage data for a particular job. Here are the numbersWhich of the following statistics will be the most accurate reflection of the market rate?MeanWeighted meanMedianModeQuestion 21 / 1 pointThe answer to the question of how many firms to include in a pay survey is ____.Question 31 / 1 pointThis measure of compensation may overstate competitors' pay.Question 41 / 1 pointWhich of the following is true regarding the Employment Cost Index (ECI)?Question 51 / 1 pointAn organization that has a match (pay) policy will pay its employees:1
Chapter 8the market rate each month for the duration.more than the market rate for some months and less than the market rate for the other months.at the 100thpercentile of the market rate obtained through the wage/salary survey.at the 50thpercentile of the market rate obtained through the wage/salary survey.Question 61 / 1 pointThe process of multiplying survey data by some factor judged to reflect the difference between a survey benchmark job and a company job is called ____.Question 71 / 1 pointWhich of the following statistical measures shows how similar or dissimilar the market rates are from each other?