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It Is Desired to Estimate the Average Total Compensation of CEOs

question 94

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It is desired to estimate the average 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 average total compensation of CEOs in the Service industry is more than $3,000,000?


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