A 10 Percent Merit Pay Increase Budget Tells Us Which

Multiple Choice

A 10 percent merit pay increase budget tells us which of the following?

A) The minimum pay increase amounts to 10 percent.
B) The maximum pay increase amounts to 10 percent.
C) The average pay increase amounts to 10 percent.
D) The standard deviation of any pay increase cannot be more than 10 percent below or above the average.