It Is Desired to Estimate the Average Total Compensation of CEOs

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 97% confidence interval was calculated to be ($2,181,260, $5,836,180) . Which of the following interpretations is correct?

A) In the population of Service industry CEOs, 97% of them will have total compensations that fall in the interval $2,181,260 to $5,836,180.
B) We are 97% confident that the average total compensation of all CEOs in the Service industry falls in the interval $2,181,260 to $5,836,180.
C) We are 97% confident that the mean of the sampled CEOs falls in the interval $2,181,260 to $5,836,180.
D) 97% of the sampled total compensation values fell between $2,181,260 and $5,836,180.