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Advertising expenses are significant component of the cost of goods sold. Listed below is a frequency distribution showing the advertising expenditures for 60 manufacturing companies located in the Southwest. Estimate the mean and the standard deviation of advertising expense.
Advertising Expenditure($ millions) Number of Companies25 up to 35 535 up to 45 1045 up to 55 2155 up to 65 1665 up to 75 8Total 60
Use the p value method to determine whether or not to accept or reject the null and alternate hypotheses.
Be sure the appropriate assumptions and conditions are satisfied before you proceed.
How large a sample size will need to be selected if we wish to have a 99% confidence interval with a margin for error of .25 hours?
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Based on the model N(1152,84) describing Angus steer weights, what are the cutoff values for.
The probability density of the net weight in ounces of a packaged compound is f(x)=2.0 for 19.75
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