Question

Listed below are the gross amounts​ (in millions of​ dollars) earned in box office receipts for a recent movie. The amounts are listed in order for the first 14 days of the movies release. Find the​ range, variance, and standard deviation of the data set. If you invested in this​ movie, what characteristic of the data set would you care about​ most, and is it a measure of center or​ variation?

53 48 47 45 38 37 36 30 26 22 21 15 8 8

Answer 1

Please follow the round off instructions if any. Let me know in comment box if you need more than 2 points round off.

Range=45

Variance= 219.69

Standard Deviation=14.82

If you invested in this​ movie, what characteristic of the data set would you care about​ most, and is it a measure of center or​ variation?

The gross from opening day and the rate of decline. The measures of center and variation are less important.

The given data is:

Data
53
48
47
45
38
37
36
30
26
22
21
15
8
8