?Geico, the number two auto insurer with ?$15 billion in revenue last? year, spent ?$1.1 billion on advertising and plans to continue spending the same percentage of sales on advertising next year. The average? advertising-to-sales ratio for Geico's industry is 0.4 percent of sales. If Geico projects ?$21 billion in sales next? year, using the?percentage-of-sales method of advertising? budgeting, how much will the company budget for advertising if basing it on projected? sales? How much would Geico budget if the company based its advertising spend on the industry?advertising-to-sales ratio? Is Geico consistent with the average industry spend on? advertising?
The? advertising-to-sales ratio for the last year is (rounding to four decimal places)