Advertising expenditures constitute one of the important components of the cost of goods sold. From the following data giving the advertising expenditures (in millions of dollars) of 50 companies, approximate the mean, median, and standard deviation of advertising expenditure.

a. Mean b. 50th Percentile c. Mode d. Range e. Variance f. Standard deviation

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Advertising Number of Cumulative Mid-point Expenditure companies Frequency d2 d2f 5 29.5 39.5 49.5 59.5 69.5 10 4 2 35 and under 45 45 and under 5511 55 and under 65 65 and under 75 18 18 18 10 20 A1 Total 50 2 10 84