Consider four different movies, their box office value after the first weekend,

Question

Consider four different movies, their box office value after the first weekend, and their box office value for a whole year. The values for this experiment are given below in terms of millions (i.e. $1 = one million). Is this a sample or a population? Explain your reasoning. For the first-weekend value: a. Calculate the mean b. Calculate the variance (organize all calculations in a table) c. Calculate the standard deviation. d. Calculate the coefficient of variation. For the whole-year value: a. Calculate the mean. b. Calculate the variance (organize all calculations in a table). c. Calculate the standard deviation.

Explanation / Answer

1) This are the population values because for the 4 movies the box office value of first weekend and the whole year values have been taken. Terming them as sample values is wrong because if we sample out few cinema halls for the values of these 4 movies,then the sample found out will be of no meaning to give the clear picture of the 4 movies worldwide.

2) For the weekend value:

We use the software MINITAB to find out the given values.

MEAN=93.67

VARIANCE=37.87

Standard Deviation=6.15

Coefficient of Variation=6.57

3) For the whole year value:

We use the software MINITAB to find out the given values.

MEAN=254.8

VARIANCE=5440.5

Standard Deviation=73.8

Coefficient of Variation=28.95

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