A study of the pay of corporate chief executive officers (CEOs) examined the inc
ID: 3058241 • Letter: A
Question
A study of the pay of corporate chief executive officers (CEOs) examined the increase in cash compensation of the CEOs of 112 companies, adjusted for inflation, in a recent year. The mean increase in real compensation was x = 6.4%, and the standard deviation of the increases was s = 40%. Is this good evidence that the mean real compensation of all CEOs increased that year?
Ho: = 0 (no increase)
Ha: > 0 (an increase) Calculate the p-value (I tried 0.0120 and 0.2273 both were incorrect. I'm having difficulties trying to figure out how to use Excel for this as well)
Explanation / Answer
A study of the pay of corporate chief executive officers (CEOs) examined the increase in cash compensation of the CEOs of 112 companies, adjusted for inflation, in a recent year. The mean increase in real compensation was x = 6.4%, and the standard deviation of the increases was s = 40%. Is this good evidence that the mean real compensation of all CEOs increased that year?
Ho: = 0 (no increase)
Ha: > 0 (an increase) Calculate the p-value (I tried 0.0120 and 0.2273 both were incorrect. I'm having difficulties trying to figure out how to use Excel for this as well)
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