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Statement of a problem № m189

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Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency distribution showing the advertising expenditures for 60 manufacturing companies located in the Southwest. The mean expense is $52.0 million and the standard deviation is $11.32 million. Is it reasonable to conclude the sample data are from a population that follows a normal probability distribution? Use the .05 significance level. Advertising Expense ($ Million) Number of Companies 25 up to 35 ............... 5 35 up to 45 ............... 10 45 up to 55 ............... 21 55 up to 65 ............... 16 65 up to 75 ............... 8 Total ................... 60




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