30. CEO compensation. In Chapter 5 we saw the
Chapter 18, Problem 30(choose chapter or problem)
30. CEO compensation. In Chapter 5 we saw the distributionof the total compensation of the chief executiveofficers (CEOs) of the 800 largest U.S. companies (theFortune 800). The average compensation (in thousandsof dollars) is 10,307.31 and the standard deviation is17,964.62. Here is a histogram of their annual compensations(in $1000): a) Describe the histogram of Total Compensation.A research organization simulated sample means bydrawing samples of 30, 50, 100, and 200, with replacement,from the 800 CEOs. The histograms show thedistributions of means for many samples of each size. b) Explain how these histograms demonstrate what theCentral Limit Theorem says about the sampling distributionmodel for sample means. Be sure to talk aboutshape, center, and spread.c) Comment on the rule of thumb that With a samplesize of at least 30, the sampling distribution of themean is Normal?
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