An industry publication reports that the average movie makes $41.7 million, but
ID: 3204175 • Letter: A
Question
An industry publication reports that the average movie makes $41.7 million, but a watchdog group concerned with rising ticket prices says that the average earnings are $66.9 million. The raw data showing movie earnings from 2013 can be found on StatCrunch. Below is a histogram and a boxplot of the data. Describe the shape of the distribution using SOCS The median gross earnings is $21.616 billion but the mean gross earnings is $39.344 billion. Why is the mean so much higher than the median? Which statistic would be most appropriate for the measure of center? Why? Which statistic would be most appropriate for the measure of spread? Why?Explanation / Answer
a) The shape of the distribution is not symmetric or right skewed
b) Skewed Right (positively skewed) - Some data plots are found to the right of the graph (toward the larger numeric values). The "tail" of the graph is pulled toward higher positive numbers, or to the right. The mean typically gets pulled toward the tail, and is greater than the median.
c)
Median is best meaure of center to the given data. Since it is skewed distribution
d)
QD is beast measure of dispersion to the givend data. Since it is skewed distribution