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neariah24
neariah24
06.04.2020 • 
Mathematics

It is desired to estimate the mean total compensation of CEOs in the Service industry. Data were randomly collected from 18 CEOs and 95% confidence interval was calculated to be ($2,181,260, $5,836,180). Explain by completing the sentence: Which of the following interpretions is correct? (Show your work)

A) In the population of Service industry CEOs, 95% of them will have total compensations that fall in the interval $2,181,260 to $5,836,180

B) We are 95% confident that the mean total compensation of all CEOs in the Service industry falls in the interval $2,181,260 to $5,836,180

C)95% of the sampled total compensation values fell between $2,181,260 and $5,181,180

D) We are 95% confident that the mean of the sampled CEOs falls in the interval $2,181,260 to $5,836,180

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