The R2 statistic tells us how well the variation in the company's valuation of jobs based on job evaluation points explains the variation in market pay rates from the compensation survey.What does it mean when the R2 = 1?
A) All of the variation in market pay can be explained by the company's job structure.
B) None of the variation in market pay can be explained by the company's job structure.
C) All of the variation in market pay can be explained by the company's external pay rates.
D) All of the variation in market pay can be explained by the benchmark rates.
Correct Answer:
Verified
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