Worldatwork C3E Quantitative Principles in Compensation Management Exam Practice Test

For the same problem set, the market appears to be paying entry-level buyers 42,500. Approx how many job evaluation points should your entry-level buyer position be worth to your org, assuming the regression model provides a good fit, based solely on the linear model of y = 15000 + 50x?

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

For the same problem set, what does the value 50 represent in the same equation? y = 15000 + 50x

Market based pay = Intercept + (slope) x (job worth). You have collected data and have quantified your model as follows: y = 15000 + 50x. The value of 15,000 in the model represents which of the following?

What type of relationship does this equation model?

y = a + bx + cx2

What does a correlation of +1.0 indicate?

What type of relationship does the following equation model? y = a + b1x1 + b2x2