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.
Base Pay Inclusions. Base pay can be hourly wages or salary. If you earn $12 per hour, thatâs your base wages. If you earn weekly salary of $700, which is $36,400 annually, thatâs your base salary. Depending on your performance or arrangement with your employer, your base pay may change. Suppose you earn $36,400 annually and receive a 5-percent annual performance increase.