A Marketing Research Company Is Estimating the Average Total Compensation

question 49

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 95% confidence interval for
The mean was calculated to be ($2,181,260, $5,836,180) . What would happen to the confidence
Interval if the confidence level were changed to 90%?

• A)There would be no change in the width of the interval.
• B)The interval would get narrower.
• C)It is impossible to tell until the 90% interval is constructed.
• D)The interval would get wider.

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Definitions:

Draft

A preliminary version of a document, plan, or strategy, subject to revision and refinement.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time.

Unauthorized Signer

An individual who signs a document or agreement without the legal authority or permission to do so.

Ratified

Confirms or approves an action, document, or agreement officially, making it valid and enforceable.