A normal probability distribution


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 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?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: A normal probability distribution
Reference No:- TGS0675122

Expected delivery within 24 Hours