CEO pay has been a controversial subject for several years, and even came up in the 2012… – Essay Furious


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 CEO pay has been a controversial subject for several years, and even came up in the 2012 presidential election. The file CEO Compensation contains data on the 100 top paid CEOs in either 2010 or 2011, depending on when the information was made available.

 

a. Treating the data in the file as the population of interest, compute the population mean and standard deviation for CEO compensation.

 

 b. Use Excel to select a simple random sample of 30 executive compensation amounts. Compute the sample mean for this sample. Find the probability of getting a sample mean as extreme or more extreme than the one you got. (Hint: Use the finite population correction factor because the sample is large relative to the size of the population.)

 

 The data file called CEO Compensation contains data for the most highly paid CEOs in the nation. Separate the values into those from 2010 and those from 2011. Treat the values found for 2010 data as population values. Assume the value found for the mean of the 2011 data is a sample from the 2010 population. What is the probability of finding a value this large or larger?

 

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