Question: I will add the wage survey needed to answer these questions. Compensaflon PI'OjeCE Two For this project, you are required to answer the following questions.

I will add the wage survey needed to answer these questions.

Compensaflon PI'OjeCE Two For this project, you are required to answer the following questions. Some questions require a description of the process. Other questions require that you show calculations and answers. This project must be submitted as an individual project but feel free to work with other students this is a learning experience. 1. What is an outlier and how you would deal with outliers. 2. Discuss what is meant by job matching. Use the following criteria for job matches: Benchmark Jobs 1, 2 and 3 must match at 80%; Benchmark Jobs 4 and 5 must match at 70%. Eliminate data that does not meet the criteria. Indicate what data has been eliminated. 3. Describe \"aging the data\" and then age the remaining data. Use an annual inflation rate of 2.8%. The effective date of your new wage schedule will be January 1, 2025. Present the aged job rates. 4. Average the data for each benchmark job using the weighted mean. Show your work and show the weighted mean for each benchmark job. 5. For the Market Line, what are the labels and values on the Y -axis and the labels and values on the X-axis. 6. You have decided to use the \"Match\" pay policy. For Pay Line One, what are the labels and values on the Y-axis and X-axis. What are the values of the y-intercept and the slope of the regression line? 7. For Pay Line Two, using the values in the Job Evaluation System Table below, what are the labels and values the X-axis? 8. For Pay Line Two, what are the labels and values on the Y axis? Using the \"regression equation\" and data from the Pay Line Two, calculate the Job Rate for each of the five pay grades. Show the completed regression equation for each Pay Grade. 9. Create the Wage Schedule for the hourly Job Family clearly indicating five specific wage ranges. You determine the spread within each Pay Grade. Explain your policy for wage range overlaps (if any), explain how you determined how many steps in each pay range and how you calculated each step in the pay ranges. The effective date of the new wage schedule will be Januam 1i 2025

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Human Resource Management Questions!

What are the three product costs for a manufacturing company? Describe each.

Chapter 10 Business Process and Information Systems Development \"Jeff, we clean the clubhouse restrooms twice a day . . . in the morning before 7 and again just before lunch. We've been doing that...

Objective This Course Project gives you the opportunity to practice by planning a project, from the onset with a project charter to an established project schedule and related artifacts. This Course...

In Chapter 3, you were introduced to 3 types of costs associated with a manufactured product ? direct materials, direct labor, and manufacturing overhead. Explain how these costs are associated with...

1.0 Educational Emphasis of Universities There is a McKinsey & Company report (reference listed below) that suggests that Universities should place focus on specific learning outcomes. The report...

QUESTION: 1. Use the most appropriate valuation model to calculate the expected share price of ABC Corporation using all the variables provided on page 2. (Keep 4 decimal points for intermediate...

QUESTION: 1. Again, as a consultant to Mr. Entrepreneur, you are asked to rank the proposals by using IRR (Internal Rate of Return) method. Which project should be selected under IRR approach? What...

QUESTION: 1. Finally, use NPV (Net Present Value) method to rank the investment proposals and select the most appropriate one to pursue. What is the most challenging aspect of the NPV method? (Please...

Mr. Entrepreneur was very excited about the investment proposals. He was very anxious to know which projects they are going to pursue in the near future. Since he has very little training in capital...

INSTRUCTIONS: Answer ALL questions To answer EACH question you MUST do the following: 1. Create the appropriate application in Visual Studio. 2. Answer the sub-questions by designing the appropriate...

On January 1, a company has 700,000 shares of issued and outstanding common stock. On March 1, the company repurchases 60,000 shares. On June 1, it effects a 2-for-1 stock split. On November 1, it...

The Central division of Grayson Inc. had the following results last year: Sales Cost of sales Allocated corporate overhead Selling expenses Administrative expenses Divisional assets Cost of capital...

estion 4 ( 1 point ) Saved lon - liquidating property distributions: which statement is faise? When the basis of distributed property is less than its fair market value, the distributing corporation...

Grouper, Inc. has budgeted direct materials purchases of $410,000 in March and $505,000 in April. The company policy is to pay for 60% of purchases in the month of purchase and the remaining 40% in...