Question

Following is the compensation, in millions of dollars, for Chief Executive Officers (CEOs) of a random sample of 20 U.S. corporations in 2014: 4.03 0.54 1.45 1.25 2.46 3.32 0.69 7.75 .061 4.05 2.34 2.77 1.09 2.09 8.66 1.13 1.02 4.37 1.51 3.47 Compute a 95% confidence interval for the mean compensation of CEOs of U.S. corporations.

Answer 1

Formula Ref:

	U.S. corporations in 2014
Mean	=AVERAGE(E4:E43)
Standard deviation	=STDEV(E4:E43)
Sample size	=COUNT(E4:E43)

95% Confidence interval: 1.71 < μ < 3.70