A Simple Random Sample of Corporate Executives Is Taken and Their

question 11

Multiple Choice

A simple random sample of corporate executives is taken and their annual salaries recorded.The goal is to estimate the 25% trimmed mean of the annual salaries of the population of all corporate executives.To do this,we bootstrap the 25% trimmed mean using our sample and obtain the bootstrap distribution. Suppose we sampled 1500 corporate executives.Summary statistics are given below. What is the bootstrap,t,95% confidence interval for the 25% population trimmed mean?

• A)$237,448.22 $8,068.40
• B)$237,601.97 $8,068.40
• C)$237,601.97 $301.35
• D)A t interval is probably not safe to use in this scenario.

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Definitions:

Joint Venture

A joint venture is a business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task, which is usually limited in time and scope.

Partnership Law

The branch of law that governs the operations, rights, and obligations of parties in a partnership, including the formation, management, and dissolution of partnerships.

Written Contract

A legally binding agreement between two or more parties, explicitly detailed in a written document rather than agreed upon orally.

Sole Proprietorship

A type of business enterprise owned and managed by one person, where there is no legal distinction between the owner and the business.