DATANle: AdvertisingSpend Which companies spend the most money on advertising? Business Insider maintains a list of the top-spending companies. In 2014, Procter & Gamble spent more than any other company, a whopping $5 bilion. In second place was Comcast, which spent $3.08 billion.t The top 12 companies and the amount each spent on advertising in billions of dollars are as follows. Advertising ($ billions) Advertising ($ billions) Company Company Procter & Gamble 5.00 American Express 2.19 Comcast 3.08 General Motors 2.15 AT&T 2.91 Toyota 2.09 2.56 Fiat Chrysler 1.97 Ford 1.96 2.44 Walt Disney Company Verizon 2.34 J.P. Morgan 1.88 L'Oreal (a) What is the mean amount (in billion dollars) spent on advertising? (Round your answer to two decimal places.) billion (b) What is the median amount (in billion dollars) spent on advertising? 24 billion (c) What are the first and third quartiles (in billion dollars)? billion first quartile billion third quartile

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### Understanding Advertising Spend of Top Companies

Business Insider maintains a list of the top-spending companies on advertising. In 2014, Procter & Gamble led the chart with an expenditure of $5 billion on advertising, while Comcast followed in second place with $3.08 billion. The detailed advertising spends of the top 12 companies are outlined in the table below:

| Company               | Advertising ($ billions) |
|-----------------------|--------------------------|
| Procter & Gamble      | 5.00                     |
| Comcast               | 3.08                     |
| AT&T                  | 2.91                     |
| Ford                  | 2.56                     |
| Verizon               | 2.44                     |
| L’Oreal               | 2.34                     |
| American Express      | 2.19                     |
| General Motors        | 2.15                     |
| Toyota                | 2.09                     |
| Fiat Chrysler         | 1.97                     |
| Walt Disney Company   | 1.96                     |
| J.P. Morgan           | 1.88                     |

#### Questions for Analysis
1. **What is the mean amount (in billion dollars) spent on advertising?**
   - _Calculate and round your answer to two decimal places._

2. **What is the median amount (in billion dollars) spent on advertising?**

3. **What are the first and third quartiles (in billion dollars)?**
   - First quartile: _____ billion
   - Third quartile: _____ billion

For a detailed understanding, you are encouraged to compute the answers based on the table provided.
Transcribed Image Text:### Understanding Advertising Spend of Top Companies Business Insider maintains a list of the top-spending companies on advertising. In 2014, Procter & Gamble led the chart with an expenditure of $5 billion on advertising, while Comcast followed in second place with $3.08 billion. The detailed advertising spends of the top 12 companies are outlined in the table below: | Company | Advertising ($ billions) | |-----------------------|--------------------------| | Procter & Gamble | 5.00 | | Comcast | 3.08 | | AT&T | 2.91 | | Ford | 2.56 | | Verizon | 2.44 | | L’Oreal | 2.34 | | American Express | 2.19 | | General Motors | 2.15 | | Toyota | 2.09 | | Fiat Chrysler | 1.97 | | Walt Disney Company | 1.96 | | J.P. Morgan | 1.88 | #### Questions for Analysis 1. **What is the mean amount (in billion dollars) spent on advertising?** - _Calculate and round your answer to two decimal places._ 2. **What is the median amount (in billion dollars) spent on advertising?** 3. **What are the first and third quartiles (in billion dollars)?** - First quartile: _____ billion - Third quartile: _____ billion For a detailed understanding, you are encouraged to compute the answers based on the table provided.
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