Week 2 Statistics Lab Statistical Measures For Better Business Decision Making

Purpose of Assignment

This assignment provided students with practice in understanding the relationship of averages and standard deviation to make an informed business decision about the gross income performance of each movie genre. Students will learn to implement the use of these statistical measures for better business decision-making.

Resources: Week 2 Videos; Week 2 Readings; Statistics Lab

Tutorial help on Excel® and Word functions can be found on the Microsoft® Office website. There are also additional tutorials via the web offering support for Office products.

Assignment Steps

Refer to Mini-Project Movie Data Set.

Analyze and write a report summarizing this data. This report should include answers to at least the following questions:

  1. Calculate the summary measures (the mean, standard deviation, five-number summary, and interquartile range) of the total gross income for each movie genre.
  2. Which genre had greater variability in total gross income? Explain why.
  3. Draw a box-and-whisker plot of a movie’s length of time (minutes) by genre. Are there any differences in movie lengths when compared across genres? Are there any outliers?

Use the mean movie gross income for each genre to compare the movie opening gross income.

Choose an appropriate statistical measure to compare the consistency of movie gross income.

Make the calculations and write a 700-word report comparing the total movie gross income and the consistency of movie opening gross by genre.

Format your assignment consistent with APA guidelines.

Click the Assignment Files tab to submit your assignment.

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