OD
(Choose 1 answer)
It is desired to estimate the average total compensation of CEOs in the Service industry. Data were randomly collected from 18 CEOs and the 97% confidence interval was calculated to be (2,181,260; 5,836,180). Based on the interval above, do you believe the average total compensation of CEOs in the Service industry is more than 3,000,000?
A. I am 97% confident that the average compensation is 3,000,000.
B. Yes, and I am 97% confident of it.
C. Yes, and I am 78% confident of it.
D. I cannot conclude that the average exceeds 3,000,000 at the 97% confidence level.
