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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 70 manufacturing
Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency distribution showing the advertising expenditures for 70 manufacturing companies located in the Southwest. The mean expense is $50.00 million and the standard deviation is $12.39 million. Is it reasonable to conclude the sample data are from a population that follows normal probability distribution? Advertising Expense Number ($ Million) 25 up to 35 of Companies 35 up to 45 17 45 up to 55 18 55 up to 65 17 65 up to 75 9 Total 70 Click here for the Excel Data File a. State the decision rule. Use the 0.05 significance level. (Round your answer to 2 decimal places.) 40: The population of advertising expenses follows a normal distribution. 1: The population of advertising expenses does not follow a normal distribution. Reject Ho if chi-square > Compute the value of chi-square. (Round your answer to 2 decimal places.) Chi-square value
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