A Marketing Research Company Is Estimating the Average Total Compensation

question 112

Multiple Choice

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 ($2,181,260, $5,836,180) . Explain what the phrase "90% confident" means.

• A) In repeated sampling, 90% of the intervals constructed would contain μ.
• B) 90% of the population values will fall within the interval.
• C) 90% of the sample means from similar samples fall within the interval.
• D) 90% of the similarly constructed intervals would contain the value of the sample mean.

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Definitions:

Institutional Prejudice

Prejudice that is caused by policies in the workplace that are not intentionally set to exclude members of specific groups or to treat them differently, but which have that effect anyway.

Groupthink

A psychological phenomenon occurring within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Discriminatory Effect

The negative impact of practices or policies that, intentionally or not, result in unfair treatment of certain groups.

Emotional Causes

The underlying emotional factors or triggers that lead to specific behaviors or psychological states.