https://file.aiquickdraw.com/mathbot/file/17265038271541s6pkp4x.jpg

using this image solve the following: a. What is the mean advertising spent for each sector? Round your answers to 2 decimal places, if necessary.Automotive	Department StoreMean	$ $ b. What is the standard deviation for each sector? Round your answers to 2 decimal places.Automotive	Department StoreStandard deviation	$ $ c. What is the range of advertising spent for each sector? Round your answers to 1 decimal place, if necessary.Automotive	Department StoreRange	$ $ d. What is the interquartile range for each sector. Round your answers to 2 decimal places.Automotive	Department StoreIQR	$ $ e. Based on this sample and your answers to parts (a) to (d), comment on any differences in the advertising spending in the automotive companies versus the department store companies.

Here are the results based on the image dataHere are the results based on the image 

**a. Mean Advertising Spend:**
- Automotive: $1986.59
- Department Store: $701.65

**b. Standard Deviation:**
- Automotive: $528.48
- Department Store: $176.77

**c. Range of Advertising Spend:**
- Automotive: $2337
- Department Store: $561

**d. Interquartile Range (IQR):**
- Automotive: $644.00
- Department Store: $258.00

**e. Comment on Differences:**
- The automotive sector shows significantly higher average advertising spending compared to department stores.
- Automotive companies have a much wider range in their advertising spend, indicating greater variability.
- The standard deviation is also much larger for automotive companies, highlighting more dispersion in their spending compared to department stores.
- The interquartile range (IQR) also confirms that the central 50% of automotive companies spend more and with greater variation compared to department stores, whose spending is more concentrated.

If you want more details or have any questions, feel free to ask.

Here are 5 relative questions to explore this further:
1. How do median values compare between the two sectors?
2. Could skewness in the data affect these statistics?
3. What factors could lead to a higher range in advertising spend?
4. How would outliers impact the interquartile range?
5. Can we test if the differences in mean advertising spending are statistically significant?

**Tip:** Standard deviation helps you understand how spread out the values are from the mean—higher values indicate more variability!

What is the mean advertising spent for each sector? Round your answers to 2 decimal places. b. What is the standard deviation for each sector? Round your answers to 2 decimal places. c. What is the range of advertising spent for each sector? d. What is the interquartile range for each sector?

Learn how to calculate the mean, standard deviation, range, and interquartile range of advertising spending for the automotive and department store sectors. This problem covers key statistical concepts, including central tendency and dispersion, with data analysis and interpretation. Suitable for high school students in Grades 10-12.

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