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Math Help - payrate scaleing

  1. #1
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    pay rate scaling

    A performance based company pays its best employee top pay. (M=$15.00/hr) And it's worst employee the lowest rate. (m=$6.00/hr) The company is shooting for an average pay rate each week. (A = $8.50/hr) The number of employees can change week to week, we'll assume 10 for this week. (E=10)

    how do you figure how much to give second place and third and so on down to 10th place.

    1. $15.00/hr
    2. ?
    3. ?
    4. ?
    5. ?
    6. ?
    7. ?
    8. ?
    9. ?
    10. $6.00/hr

    i think variance is the key but all the examples i see ask for the data set first. also i don't know how to adjust for the $8.50/hr average.

    thanks
    Last edited by KyJelly; June 23rd 2008 at 06:24 PM.
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  2. #2
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    i was beginning to wonder if i have posted this in the right category/math level. if not could an admin please move it to the appropriate place please.

    i'm really looking forward to seeing a solution for this problem and perhaps a formula to use in a spreadsheet.

    thanks
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  3. #3
    Grand Panjandrum
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    Quote Originally Posted by KyJelly View Post
    i was beginning to wonder if i have posted this in the right category/math level. if not could an admin please move it to the appropriate place please.

    i'm really looking forward to seeing a solution for this problem and perhaps a formula to use in a spreadsheet.

    thanks
    There is no unique solution, it all depends on how great a pay differential you want to achieve.

    RonL
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  4. #4
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    i'm not sure but i do know that i want it to decrease. so say $1.50 between 1st and 2nd then $1.00 between 2nd and 3rd. then $.075 for the next. but the average pay must equal whatever it's set to, say $8.50.hr.

    sorry about the useless post btw.
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