Advertising expenses are a significant component of the cost of goods sold. Listed below is a frequency

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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 60 manufacturing companies located in the Southwest. The mean expense is $52.0 million and the standard deviation is $11.32 million. Is it reasonable to conclude the sample data are from a population that follows a normal probability distribution? Use the .05 significance level.

Advertising Expense ($ Million) Number of Companies

25 up to 35 ............... 5

35 up to 45 ...............10

45 up to 55 ...............21

55 up to 65 ...............16

65 up to 75 ............... 8

Total ...................60


Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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