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Question 2: Studies indicate that small businesses (20-40 employees) in the U.S. spend an average of $30,000 a year on marketing. Assume the standard deviation is $6200 and the distribution is approximately symmetric and mound-shaped. a) Identify the variable. b) Identify the experimental unit. c) What percentage of small businesses spend less than $17,600 on marketing?

Question 2: Studies indicate that small businesses (20-40 employees) in the U.S. spend an average of $30,000 a year on marketing. Assume the standard deviation is $6200 and the distribution is approximately symmetric and mound-shaped. a) Identify the variable. b) Identify the experimental unit. c) What percentage of small businesses spend less than $17,600 on marketing?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Question 2: Studies indicate that small businesses (20-40 employees) in the U.S. spend an average of $30,000 a year on marketing. Assume the standard deviation is $6200 and the distribution is approximately symmetric and mound-shaped. a) Identify the variable. b) Identify the experimental unit. c) What percentage of small businesses spend less than $17,600 on marketing? d) What percentage of small businesses spend between $36,200 and $48,600 on marketing? e) What is the minimum amount of money spent on marketing by the top 2.5% of small businesses? f) Suppose a small business spends $15,000 on marketing. Would this be an unlikely observation? An outlier? Or neither? Use an appropriate numerical measure to support your decision. F21 STAT 008 v1 AFlores
Transcribed Image Text:Question 2: Studies indicate that small businesses (20-40 employees) in the U.S. spend an average of $30,000 a year on marketing. Assume the standard deviation is $6200 and the distribution is approximately symmetric and mound-shaped. a) Identify the variable. b) Identify the experimental unit. c) What percentage of small businesses spend less than $17,600 on marketing? d) What percentage of small businesses spend between $36,200 and $48,600 on marketing? e) What is the minimum amount of money spent on marketing by the top 2.5% of small businesses? f) Suppose a small business spends $15,000 on marketing. Would this be an unlikely observation? An outlier? Or neither? Use an appropriate numerical measure to support your decision. F21 STAT 008 v1 AFlores
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