A company has a policy that states: Our employees will be paid at the mean of...
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A company has a policy that states: Our employees will be paid at the mean of their peers. After a study was done it was learned that one employee group is being paid at the 25th percentile and an immediate raise of 7.7% is needed to bring them back up to the mean. Given an employee salary of $47,560 calculate what the corrected salary should be. A company has a policy that states: Our employees will be paid at the mean of their peers. After a study was done it was learned that one employee group is being paid at the 25th percentile and an immediate raise of 7.7% is needed to bring them back up to the mean. Given an employee salary of $47,560 calculate what the corrected salary should be.
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If the employee group is currently being paid at the 25th percentile it means that 75 of their peers ... View the full answer
Related Book For
Construction accounting and financial management
ISBN: 978-0135017111
2nd Edition
Authors: Steven j. Peterson
Posted Date:
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