A Marketing Research Company Is Estimating the Average Total Compensation $99 \%$

question 105

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 99% confidence interval for
The mean was calculated to be ($2,181,260, $5,836,180) . Explain what the phrase ʺ99% confidentʺ
Means.

• A) \(99 \%\) of the similarly constructed intervals would contain the value of the sample mean.
• B) \(99 \%\) of the sample means from similar samples fall within the interval.
• C) In repeated sampling, \(99 \%\) of the intervals constructed would contain \(\mu\).
• D) \(99 \%\) of the population values will fall within the interval.

---

Definitions:

Capabilities

The variety of abilities, skills, or expertise that an entity, whether an individual or organization, possesses to perform a certain range of tasks or activities.

Persuasive Request

A communication aimed at convincing the recipient to grant a favor, approval, or support for a particular action or idea.

Email Job-Hunting

The practice of using email communications to seek out employment opportunities, apply for jobs, and network with potential employers.

Etiquette

The set of conventional rules of personal behaviour in polite society, usually in the form of accepted social conduct.