Question: For questions #8-11: We are interested in exploring the average amount spent on marketing in the last quarter by retail outlets in the US, which

For questions #8-11: We are interested in exploring the average amount spent on marketing in the last quarter by retail outlets in the US, which we assume are normally distributed. An article in the Wall Street Journal reported that the average amount spent on marketing in the last quarter by retail outlets in the US was $551,715.69.Suppose the firm you are working for randomly samples 800 retail outlets and finds that the sample average is $547,195 with a sample standard deviation of $82,681.

8.Your partner Bob's firm believed, before gathering data, that the true average amount spent on marketing is different than the amount reported by the Wall Street Journal. Is there enough evidence to find that the partner firm is correct?

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