C3E Quantitative Principles in Compensation Management Question and Answers

Suppose you were given the following data for salary grade 007: Min 4,800 Midpoint 6,000 Max 7,200

What is the salary range spread?

Suppose your monthly pay is 3,000. The mean for all employees in your grade is 3,500, and the standard deviation is 200. What is your z-score relative to this group of employees?

Which of the following provide useful guidelines for grouping data into categories?

A survey shows the average pay for senior accounting clerks is 1,570/mth. Your midpoint for senior-accounting clerks is 1,670 and the average actual pay is 1,550. What is your compa-ratio for accounting clerks? What is your market index?

You have been asked to comment on a proposed provision in the union contract. over the next 3 years, management proposes increases of 2%, 2.5%, 3% over the 3 year life of the contract. The union negotiator insists that it be 3%, 2.5%, 2.0%. Assuming the hourly rate for a job class is 12.50/hr., what is the rate in three years?