Worldatwork Quantitative Principles in Compensation Management C3E Exam Practice Test

How can compensation professionals ensure their statistical data are not distorted?

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?

What type of relationship does this equation model?

y = a + bx + cx2

For the same problem set, what should your organization pay for an entry-level production-manual editor, a job that has been determined to be worth 500 job evaluation points. y = 15000 + 50x

You spent 30% of your budget on merit increases three years ago, 35% two years ago, and 40% last year. When was the most money spent on merit increases?

Makayla's salary has grown at a rate of 7.3% per year for the past six years. If her increases remain the same, how long will her salary take to double?

You have obtained a set of market data that show you senior MIS manager has a market average of 72,000. If you have a 50% range spread, what would the new minimum and maximum be if the new midpoint is 72,000?