It is desired to estimate the mean total compensation of CEOs in the Service Industry. Data were randomly collected from 18 CEOs and the 95% confidence interval was calculated to be ($2,181,260, $5,836,180). Which of the following interpretations is correct? A) We are 95% confident that the mean of the sampled CEOs falls in the interval of $2,181,260 to $5,836,180. B) In the population of Service Industry CEOs, 95% of them will have the total compensation fall in the interval of $2,181,260 to $5,836,180. C) We are 95% confident that the mean of total compensation of CEOs in the Service Industry falls in the interval of $2,181,260 to $5,836,180. D) 95% of the sampled total compensation values fell in the interval of $2,181,260 to $5,836,180.
It is desired to estimate the mean total compensation of CEOs in the Service
Industry. Data were randomly collected from 18 CEOs and the 95% confidence interval
was calculated to be ($2,181,260, $5,836,180). Which of the following interpretations
is correct?
A) We are 95% confident that the mean of the sampled CEOs falls in the interval of
$2,181,260 to $5,836,180.
B) In the population of Service Industry CEOs, 95% of them will have the total
compensation fall in the interval of $2,181,260 to $5,836,180.
C) We are 95% confident that the mean of total compensation of CEOs in the Service
Industry falls in the interval of $2,181,260 to $5,836,180.
D) 95% of the sampled total compensation values fell in the interval of $2,181,260 to
$5,836,180.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
