A marketing research company is estimating the average total compensation of CEOs in the service industry....
A marketing research company is estimating the average total compensation of CEOs in the service industry. Data were randomly collected from 18 CEOs and the 90% confidence interval for the mean was calculated to be ( 2181260, 5836180). Explain what the phrase "90% confident" means.
A. 90% of the similarly constructed intervals would contain the value of the sample mean.
B. 90% of the sample means from similar samples fall within the interval.
C. 90% of the population values will fall within the interval.
D. In repeated sampling, 90% of the intervals constructed would contain mu.
Homework Answers
The 90% confident phrase means:
In repeated sampling, 90% of the intervals constructed would contain mu.
Option D is correct.
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A marketing research company is estimating the average total
compensation of CEOs in the service industry....
A marketing research company is estimating the average total compensation of CEOs in the service industry....
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