Question
____13. A marketing research company needs to estimate the average total compensation of CEOs in the service industry. Data were randomly collected from 18 CEOs
____13. A marketing research company needs to estimate the average total compensation of CEOs in the service industry. Data were randomly collected from 18 CEOs and the 90% confidence interval was calculated to be ($2,181,260, $5,836,180). Explain what the phrase "90% confident" means.
A. 90% of the similarly constructed intervals would contain the value of the sample mean
. B. In repeated sampling, 90% of the intervals constructed would contain population mean.
C. The probability that the population mean falls in any confidence interval constructed is .90.
D. 90% of the population values will fall in the interval.
is D the right answer?
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