Fundamentals of Compensation Quantitative Methods

Example of populations

You wish to conduct a survey of secretarial positions in the glass industry. What would constitute a "sample" of the population?

  • Population: Names (and N) of all companies in the industry
  • Sample: Names (and n) of all companies participating in the survey

A major national survey sends you these results for Los Angeles:

POSITION Junior Secretary Senior Secretary Executive Secretary
# OF COMPANIES 5 18 12
# OF POSITIONS 17 56 13
MEDIAN $50,800 $63,100 $67,200
MEAN $51,500 $64,000 $68,400

Based strictly on the results, you may question the validity of the data for the following reasons:

  • The sample is very small (Los Angeles has over 1,000 companies with more than 100 employees).
  • It may be biased.
  • It may not be random.

Memory Jogger

You are analyzing a salary survey. The data that is in the survey would be considered as a:

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