Chapter 8. Based on the CEO pay review report by CG Analytics in 2019, a researcher claims with 98% confidence that the total compensation in millions for the top CEOs in the country was lower than 30 million per CEO, if Elon Musk (total compensation of $2.9B) was not included on account of him being an outlier. The following table represents a sample of the total compensation in millions of dollars for 20 CEOs.

44	69	44	31
17	27	43	30
18	28	42	30
78	64	41	29
72	51	38	29

Use this sample data to answer the following questions and to construct a 98% confidence interval for the mean compensation of CEO's for these top firms. Use the Student's t-distribution. Round to 2 decimal spaces unless specified otherwise.

1. Sample mean =
2. Sample standard deviation =
3. Value of significance t =
4. 98% Confidence interval: Lower Limit = and Upper Limit =
5. The claim of the researcher is valid. Answer "True" or "False" based on your sample test conducted above: