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To estimate how much to spend on advertising, Alexico Pty Ltd needs to know the...

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Finance

To estimate how much to spend on advertising, Alexico Pty Ltd needs to know the average advertising expenses done by the competitors per month. A sample of 50 competitors was randomly selected and draw the results to be used in budgeting for next year.

a. What is the variable of interest?

b. What is the population of interest?

c. What is the parameter Alexico needs?

d. What is the sample?

e. What is the statistic?

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