A motion picture industry analyst is studying movies based on epic novels. The following data were obtained for 10 Hollywood movies made in the past five years. Each movie was based on an epic novel. For these data, x, = first-year box office receipts of the movie, x, = total production costs of the movie, x = total promotional costs of the movie, and X4 = total book sales prior to movie release. All units are in millions of dollars. 85.1 Xз X4 8.5 12.9 5.2 10.7 3.1 3.5 9.2 9.0 15.1 10.2 5.1 5.8 2.1 8.4 2.9 1.2 3.7 4.7 8.8 106.3 15.1 130.6 54.8 30.3 79.4 12.2 10.6 3.5 9.7 5.9 20.8 91.0 7.6 135.4 7.7 89.3 4.5 7.9
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
(a) Generate summary statistics, including the
| x | s | CV | |
| x1 | % | ||
| x2 | % | ||
| x3 | % | ||
| x4 | % |
Step by step
Solved in 4 steps with 9 images
