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Which of the following is a characteristic of a standard deviation?
The standard deviation is based on the middle portion of the data.
The standard deviation reflects the variation of values between two points.
The standard deviation uses all the data points from the data set in its calculation
At least 95% of the points in a data set will always be within +-2 standard deviations from the mean.
If the midpoint is 2,000 and the desired range spread is 50%, what are the min and max values?
1,500 min; 2,500 max
1,600 min; 2,400 max
1,700 min; 2,300 max
1,750 min; 2,250 max
What are percentile bars?
A tool to help visualize the distribution of data
The value that occurs most often among a data set
Representations of the median salary in an organization's pay grades
The most common method of representing unweighted means
Why do compensation professionals collect & use data?
To support personal agendas
To respond to stock price volatility
To improve changes of making sound decisions
To replace the need for modeling
TESTED 15 May 2024
