A Marketing Research Company Is Estimating the Average Total Compensation

question 61

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 98% confidence interval for the mean was calculated to be ($2,181,260, $5,836,180) . What additional assumption is necessary for this confidence interval to be valid?

• A) The population of total compensations of CEOs in the service industry is approximately normally distributed.
• B) None. The Central Limit Theorem applies.
• C) The sample standard deviation is less than the degrees of freedom.
• D) The distribution of the sample means is approximately normal.

Grasp the concept of "empty nest" and its diverse impacts on parents, debunking the myth of uniform reactions.

Understand the changing nature of friendships in middle age, including the quantity and quality of friendships.

Appreciate the significance and dynamics of caring for elderly parents, including emotional and logistical challenges.

Analyze the complexities of the "sandwich generation", balancing caregiving responsibilities for both children and aging parents.

---

Definitions:

Force Majeure Clause

A contract provision that frees parties from liability or obligation when an extraordinary event or circumstance beyond their control occurs.

Hail

Frozen precipitation in the form of balls or irregular lumps of ice, often occurring during strong thunderstorms.

Monetary Compensation

Financial payment provided to an individual for services rendered, such as a salary, wages, or benefits.

Breach of Contract

Not meeting any provision of a contract, be it written or spoken, without an acceptable legal justification.