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 to $5,836,180) Which of the following interpretation is correct? a. In the population of Service industry CEOs, 95% of them will have total compensations that fall in the interval $2,181,260 to $5,836,180
b. We are 95% confident that the mean total compensation of all CEOs in the Service industry falls in the interval $2,181,260 to $5,836,180
c. 95% of the sampled total compensation values fell between $2,181,260 and $5,181,180
d. We are 95% confident that the mean of the sampled CEOs falls in the interval $2,181,260 to $5,836,180