It is desired to estimate the average total compensation of CEOs in the service industry. Data were randomly collected from 18 CEOs and 95% confidence interval was calculated to be ($2,190,000, $4,720,000). Based on the interval above, do you believe the actual average total compensation of CEOs in the service industry could be $5,000,000

Option C

Step-by-step explanation:

Remaining part of the question

a. Yes, and I am sure of that.

b. Yes, and I am 95% confident of that.

c. No, and I am sure of that.

d. No, and I am 95% confident of that.

Solution

The compensation in the range of 95 %  is ($2,190,000, $4,720,000). This indicate that there are 95% chances that a given CEO compensation will fall with in the give range.

The given salary range is $5,000,000 which does not lie in the given range. Hence, it is in the region of the graph or bell curve where there are 5% chances that the given salary range will not fall into the given salary range i,e ($2,190,000, $4,720,000)

Hence, the actual average total compensation of CEOs in the service industry can or cannot be  $5,000,000

Hence, option C is correct

n

step-by-step explanation:

fist on the left goes with the third on the right. second on the left goes with the fourth on the right. third on the left goes with the second on the right. the fourth on the left goes with first on the right