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Hamilton County Judges

In: Business and Management

Submitted By katiebarton
Words 635
Pages 3
Katelyn Barton
Business Analytics 1
Dr. Barry Smith
Project #3

As the years ascend, the movie picture industry has continued to grow and become more profitable than the previous years. The films produced have not only made businesses more competitive, but also more revenue. In the textbook, Statistics for Business and Economics, a case study is presented regarding the gross sales of some of the top grossing movies of 2011. Amongst this list was Harry Potter and the Deathly Hallows Part 2, Transformers: Dark of the Moon, The Twilight Saga: Breaking Dawn Part 2, Pirates of the Caribbean: On Stranger Tides, Fast Five, Mission: Impossible-Ghost Protocol, Cars 2, Sherlock Holmes: A Game of Shadows, and Thor. The data is the chart presents the opening gross sales and total gross sales (in millions). The chart also provided the weeks in release and number of theatres showing each film.
After applying descriptive statistics towards the data, I was able to better understand the differences in each value. The minimum and maximum are listed for each variable, which assists in computing the range, which is the difference in the maximum value and minimum value. Next it was easy to compute the median, Q1, and Q3. When viewing the total gross sales, I divided the ascending order of values into four sections. The middle number, or median, 225.445, represented the central location between the minimum and maximum. From this point the first quartile, 195.725, represent the 25th percentile for the data. Likewise, 274.5825, represents the third quartile, or 75th percentile. After computing the minimum, maximum, median, Q1, and Q3 a five-number summary can be produced. With this summary, identifying any outliers and differences is more apparent. There are many crucial descriptive statistics, but calculating the average sheds a lot of useful information about the data. To do so,…...

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