Question
) It is desired to estimate the mean total compensation of CEOs in the Service industry. Data were randomly collected from 18 CEOs and the
) 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). Based on the interval above, do you believe the mean total compensation of CEOs in the Service industry is more than $3,000,000? 35) A) I am 95% confident that the mean compensation is $3,000,000. B) Yes, and I am 95% confident of it. C) Yes, and I am 78% confident of it. D) I cannot conclude that the mean exceeds $3,000,000 at the 95% confidence level
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