3. The data set
(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
What are the sample mean, standard deviation, median, minimum, and maximum for each
sector? Use Minitab and paste
these descriptive statistics.
d. Find the
best point estimate
of the population mean advertising spend for each sector.