Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency distribution showing the advertising expenditures for 78 manufacturing

Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency distribution showing the advertising expenditures for 78 manufacturing companies located in the Southwest. The mean expense is $49.87 million and the standard deviation is $11.68 million. Is it reasonable to conclude the sample data are from a population that follows a normal probability distribution? Advertising Expense ($ Million) Number of Companies 25 up to 35 8 35 up to 45 20 45 up to 55 24 55 up to 65 17 65 up to 75 9 Total 78 -------------------------------------------------------------------------------- State the decision rule. Use the .02 significance level

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

List out some inventory management techniques.

Answered: 1 week ago

Question

d. How were you expected to contribute to family life?

Answered: 1 week ago