Coverage thoroughness

In the test strategy is decided what coverge thouroughness is to be acheived in the test. This means that executives and other stakeholder most likely expect information about the thoroughness of your test. But what do they mean? They probably mean one of the four aspects related to thoroughness:

So, although a fascinating subject, it’s also a complex matter. There is no black and white here. However, we can state that testing everything is impossible. How more thorough is a certain coverage type compared to another (e.g. pairwise testing versus modified condition/decision testing)? How more thorough is one variation within a coverage type compared with another variation within that same coverage type (e.g. modified condition/decision testing versus modified condition coverage)? How many additional defects are to be found?