Mathematics, 03.04.2020 17:55, xxaurorabluexx
It is desired to estimate the average total compensation of CEOs in the Service industry. Data were randomly collected from 18 CEOs and the 97% confidence interval was calculated to be ($2,181,260, $5,836,180). Which of the following interpretations is correct?
a) 97% of the sampled total compensation values fell between $2,181,260 and $5,836,180.
b) We are 97% confident that the mean of the sampled CEOs falls in the interval $2,181,260 to $5,836,180.
c) In the population of Service industry CEOs, 97% of them will have total compensations that fall in the interval $2,181,260 to $5,836,180.
d) We are 97% confident that the average total compensation of all CEOs in the Service industry falls in the interval $2,181,260 to $5,836,180.
Answers: 2
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It is desired to estimate the average total compensation of CEOs in the Service industry. Data were...
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