Question: Marketing and Consumer Behavior As the use of the Internet has increased, companies are spending more money advertising online. A sample of leading national advertisers was obtained, and the Internet advertising spending (in millions of dollars) for the year was recorded for each. The data are given in the following table.
Suppose the mean spending on Internet advertising for these companies the previous year was $55.5 million. Is there any evidence to suggest the true mean spending on Internet advertising has increased? Use a = 0.05.