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21 May, 09:01

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 billion. In second place was Comcast, which spent $3.08 billion (Business Insider website, December 2014). The top 12 companies and the other company, a amount each spent on advertising in billions of dollars are as follows

Company Advertising Company Advertising

Protect and gamble 5.00 American Express 2.19

Comcast 3.08 Genaral motors 2.15

at&T 2.91 Toyota 2.09

Ford 2.56 Fiat chrysler 1.97

Verizon 2.44 Walt Disney Company 1.96

Loreal 2.34 J. P Morgan 1.88

a. What is the mean amount spent on advertising? (to 2 decimals)

b. What is the median amount spent on advertising? (to 3 decimals)

c. What are the first and third quartiles? First Quartiles (to 1 decimals) Third Quartiles (to 4 decimals)

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Answers (1)
  1. 21 May, 11:41
    0
    a. What is the mean amount spent on advertising?

    $2.55 billion

    b. What is the median amount spent on advertising?

    $2.265 billion

    c. What are the first and third quartiles?

    first quartile = $2.04 billion third quartile = $ 3.055 billion

    Explanation:

    Company Advertising expense (in $ billion)

    Procter and Gamble 5.00

    American Express 2.19

    Comcast 3.08

    General Motors 2.15

    AT&T 2.91

    Toyota 2.09

    Ford 2.56

    Fiat Chrysler 1.97

    Verizon 2.44

    Walt Disney Company 1.96

    Loreal 2.34

    J. P. Morgan 1.88

    total $30.57 billion

    mean $2.55 billion

    median is between $2.19 and $2.34 ⇒ ($2.19 + $2.34) / 2 = $2.265

    first quartile = ($1.88 + $1.96 + $1.97 + $2.09 + $2.15 + $2.19) / 6 = $12.24 / 6 = $2.04

    third quartile = ($2.34 + $2.44 + $2.56 + $2.91 + $3.08 + $5) / 6 = $18.33 / 6 = $3.055
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