It Is Desired to Estimate the Average Total Compensation of CEOs

question 146

Multiple Choice

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)
-Which of the following interpretations is correct?

• A) 95% of the sampled total compensation values fell between $2,181,260 and $5,836,180.
• B) In the population of Service industry CEOs, 95% of them will have total compensations that fall in the interval $2,181,260 to $5,836,180.
• C) We are 95% confident that the mean of the sampled CEOs falls in the interval $2,181,260 to $5,836,180.
• D) We are 95% confident that the average total compensation of all CEOs in the Service industry falls in the interval $2,181,260 to $5,836,180.

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Definitions:

Herzberg's Theory

A motivation theory, also known as the Two-Factor Theory, that identifies motivating factors which can increase job satisfaction and hygiene factors that, if missing, can cause job dissatisfaction.

Recognition

The act of acknowledging and valuing the contributions and achievements of individuals or groups.

Career Growth

The process of advancing one's career, often through higher job positions, increased responsibilities, further education, or skill development, leading to personal and professional satisfaction.

Need For Power

A manifest need that concerns the desire to influence others, change people or events, and make a difference in life.