Motion Picture Industry

Through the use of numerical measure, the Motion Picture Industry can be analyzed more specifically. Descriptive statistics can assist analyst to measure data in terms of location, variability, association between two variables, as well as using data for exploratory analysis and the shape, relative location, and the identification of outliers. The data presented offers a look at four data sets including opening gross income, total gross income, number of theaters, and weeks in the top 60 movies for a sample of 100 movies. These data sets reveal numerous findings about the motion picture industry that reveal useful information to an analyst. The measure of location illustrates the location of data samples from a point of central tendency or the measure of the samples, grouped together, and there position spread across intervals. Locational measures include the mean, the median, the mode, percentiles and quartiles. The mean is the average of the date set. The median represents the middle of the group in ascending order. The mode can be various numbers in which similar numbers appear most frequently in the sample; there can be more than one mode. The percentiles and quartiles represent the position(s) that a set of numbers are grouped throughout the sample. Percentiles are defined by a particular percentages, while quartiles split the group into even quarters of 25% (Anderson, Sweeney, & Williams, 2012). The measure of variability is expressed through an element of dispersion across a population sample. Variability is measured through the calculation of range, interquartile range, variance, standard deviation, and coefficient of variation. The range is not commonly used as it is influenced significantly by outliers; however, it is measured by the subtracting the smallest value by the largest value. Interquartile range represents the difference between the first quartile and the third quartile. This allows analyst to see the interior 50% of the

References: Anderson, D. R., Sweeney, D. J., & Williams, T. A. (2012). Essentials of statistics for business and economics (Revised 6th ed.). Mason, OH: South-Western Cengage Learning.