Calculating Pay Ranges Accordingly to your company's job evaluation plan, the least number of points any job can score is 200 points and the maximum is 1,000 points. Your company has a pay structure that has four different grade levels-see the table below. The market pay regression line (after aging) is y= 12,000 + 62x. Your company's pay policy is to lead the market by 5%. You are a compensation analyst and your manager has asked you to calculate the pay range maximums, midpoints, and minimums for all four pay grades. Page 160 Questions 1. Calculate the equation for your pay policy line. 2. Complete the following table (the range for each pay grade is indicated in the table). Pay Grade 1 2 3 4 Job Evaluation Points 200-399 400-599 600-799 800-1000 Range Minimum Range Midpoint Range Maximum Percent Above/Below Midpoint 10% 15% 20% 25% 3. Does the pay structure looks reasonable to you? Would it be effective in terms of motivating employees' behaviours? Why or why not?