Μ 12 1645 4 ö 200 μ 12 29 1171 μ 1229 b interpret

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μ = 12 ± 1.645 _4_ Ö 200 μ = 12 ± .29 11.71 £ μ £ 12.29 n z x s μ ± =
b. Interpret for management the 90% confidence interval.
c. How can a manager at this company use this information? Be specific.
3. The data set Advertising $ (on Canvas under data files) contains the annual advertising expenditures (in millions) for a sample of companies in the automotive sector and in the department store sector. Use this data set and Minitab to answer the following questions (assume the population is normally distributed): a. Describe the target population(s).
b. Briefly describe a possible sampling frame .
c. What are the sample mean, standard deviation, median, minimum, and maximum for each sector? Use Minitab and paste only these descriptive statistics. d. Find the best point estimate of the population mean advertising spend for each sector.
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