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Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola
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Confidence Intervals. In Exercise, construct

Chapter 7, Problem 11BSC

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QUESTION:

Confidence Intervals. In Exercises 9–24, construct the confidence interval.

CEO Compensation Listed below are the recent annual compensation amounts (in thousands of dollars) for a random sample of chief executive officers (Mulally from Ford, Jobs from Apple, Kent from Coca­Cola, Otellini from Intel, and McNerney from Boeing). The mean of the sample is 12,898 (thousand dollars) and the standard deviation is 7719 (thousand dollars). Construct a 95% confidence interval estimate of the mean of the population of all such chief executive officers. Is there anything notable about the sample data that might have an effect on the result?

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QUESTION:

Confidence Intervals. In Exercises 9–24, construct the confidence interval.

CEO Compensation Listed below are the recent annual compensation amounts (in thousands of dollars) for a random sample of chief executive officers (Mulally from Ford, Jobs from Apple, Kent from Coca­Cola, Otellini from Intel, and McNerney from Boeing). The mean of the sample is 12,898 (thousand dollars) and the standard deviation is 7719 (thousand dollars). Construct a 95% confidence interval estimate of the mean of the population of all such chief executive officers. Is there anything notable about the sample data that might have an effect on the result?

ANSWER:

Solution 11BSC

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