Which companies spend the most money on advertising? A news website maintains a

Question

Which companies spend the most money on advertising? A news website maintains a list of the top-spending companies. In 2014, Corpany A spent more than any other company, a whopping $5.00 billion. I second place was Company B, which spent $2.28 billion. The top 12 companies and the amount each spent on advertising in billions of dollars are as follows. Advertising Company ($ billions) Company ($ billions) Advertising 5.00 2.19 1.85 2.59 2.37 1.56 1.98 3.28 2.61 .36 2.84 (a) What is the mean amount (in billion dollars) spent on advertising? (Round your answer to two decimal places.) $ 2.59 billion (b) What is the median amount (in billion dollars) spent on advertising? $2.43 billion (c) What are the first and third quartiles (In billlon dollars)? first quartile $ third quartile X billion Xbillion

Explanation / Answer

The statistical software output for this problem is:

Summary statistics:

Hence,

c) First quartile = $ 2.06 billion

Third quartile = $ 2.725 billion

Column Q1 Q3 Data 2.06 2.725

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