A magazine looked at the success of CEOs with MBAs. Of the 1237 CEOs that respon

Question

A magazine looked at the success of CEOs with MBAs. Of the 1237 CEOs that responded, 39% said that they had earned an MBA. Complete parts a through c. B. No C. Yes Is the Success/Failure Condition met? Yes It cannot be determined. No Construct the 95% confidence interval. The interval is b) Some believe that fewer contemporary CEOs arc earning MBAs. Suppose we wished to conduct a hypothesis test to see if the fraction has fallen below the 42% mark. What does the confidence interval indicate? What does the confidence interval indicate? Since 42% is not in the interval, there is strong evidence that more than 42% of all CEOs have MBAs. Since 42% is greater than the upper limit of the interval, there is strong evidence that fewer than 42% of all CEOs have MBAs. Since 42% is in the interval, there is strong evidence that fewer than 42% of all CEOs have MBAs. Since 42% is in the interval, there is strong evidence that more than 42% of all CEOs have MBAs.

Explanation / Answer

Here since 42% is greater than the upper limit of the interval, there is strong evidence that fewer than 42% of all CEOs have MBAs.
B is the correct answer.

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