| Organization |
Base Salary |
"Updated" Salary |
# of Employees on Job |
| 1 |
$ 65,000.00 |
| 10 |
| Inflation (CPI-U, 12 month) |
|
|
|
| 1.082 |
| (See Slide 22) |
| 2 |
$ 59,850.00 |
| 3 |
| 3 |
$ 81,225.00 |
| 6 |
| "Updated" Median Pay |
|
|
|
|
|
| (See slide 24) |
| 4 |
$ 73,100.00 |
| 35 |
| "Updated" Average Pay (Unweighted) |
|
|
|
|
|
| (See slide 24) |
| 5 |
$ 70,500.00 |
| 24 |
| "Updated" Trimmed Mean (Unweighted) |
|
|
|
|
|
| (See slide 21) |
| 6 |
$ 100,420.00 |
| 1 |
| "Updated" Range (Max - Min) |
|
|
|
|
|
| (Use min and max formula) |
| 7 |
$ 71,000.00 |
| 10 |
| "Updated" Weighted Mean |
|
|
|
|
|
| (See slide 26) |
| 8 |
$ 74,500.00 |
| 20 |
| 9 |
$ 82,000.00 |
| 4 |
| 10 |
$ 81,250.00 |
| 12 |
| Instructions (complete this individually [if you want the practice], or in a group) |
|
|
|
|
|
| Questions (submit this excel document) |
| 1) Obtain "updated" salary by multiplying the old salary with inflation (assume 8.2% or 1.082) |
|
|
|
|
|
| 3) Are there any outliers you should be aware of? |
| 2) Using the "Aged" salary, compute the median, mean , trimmed mean, and range |
|
|
|
|
|
| 4) Based on your analysis, recommend a pay rate for this position. Why did you recommend this pay rate but not others? |
|
|
|
|
|
|
|
| 5) Given more time and resources: |
|
|
|
|
|
|
|
| what additional information besides base salary levels would you try to obtain from each company about the job reported in the survey, and why? |
|
|
|
|
|
|
|
| what additional company-level information might also be relevant to know about the 10 organizations above, and why? |
ziang gao
Week7_AgingSalaryData.xlsx
