Statistics is the science of collecting and analyzing numerical data gathered from a representative sample in order to infer the true mean or proportion of a population. The x-bar_ is the symbol (or expression) used for the sample mean statistics.
Base salary is a fixed amount of money paid to an employee by an employer in return for work performed. Base salary does not include benefits, bonuses or any other potential compensation from an employer.
Sample Grade Structure A simple grade structure might look like this: Grade Salary Minimum Salary Midpoint Salary Maximum 1 $7,500 10,000 12,500 2 9,500 12,000 14,500 3 11,500 14,000 16,500 4 14,000 17,000 20,000 I've used round numbers here. The salary midpoint of a grade is typically 20-30% higher than the preceding grades salary midpoint. â¢ The maximum of a grade may be higher than the minimum of the next higher grade (but doesn't need to be).