Mini Project 3-3
Mini Project 3-3
Statistical measures are proven to be helpful in making better business decisions. When it comes to making informed business decisions, it is best to understand averages and standard deviation. The assignment this week was to analyze movie data set and create a summary of the data. Statistical measures can be used to calculate the mean, or average of a data set, based on the data provided. The standard deviation, five-number summary, and interquartile range are also able to be calculated by using statistical measures. I will also go over which genre had greater variability and discuss information provided in a box-and-whisker plot.
The movie genres that were evaluated include: Action, Adventure, Animation, Biography, Comedy, Crime, Documentary, Drama, and Horror. The first thing that was calculated was the mean, standard deviation, five-number summary, and interquartile range for the total gross income for each movie genre. To make the information easier to read, I will break up the information by movie genre.
The first genre is Action and the data calculations are: mean = 93,602,863, the standard deviation = 93,305,573.3, the five-point summary: median = 58,607,007, max = 350,126,327, min = 1,558,836, Q1 = 19,736,060, Q3 = 130,800,900, and interquartile range (IQR) = 111,064,840.
The next genre is Adventure and the data calculations are: mean = 122,371,299, standard deviation = 104,675,749.5, the five-point summary: median = 113,792,151, max = 337,135,885, min = 2,589,811, Q1 = 45,058,978, Q3 = 169,483,956, and the IQR = 124,424,978.
Next on the list is Animation and the data calculations are: mean = 101,813,750, the standard deviation = 82,412,674.37, the five-point summary: median = 64,251,541, max = 257,760,692, min = 2,553,002, Q1 = 50,151,543, Q3 = 131,538,435, and the IQR = 81,386,892.
Biography is the next genre and the calculations include: mean = 31,174,471, standard deviation = 32,675,664.09, the five-point summary: median = 22,592,566, max = 115,637,895, min = 2,107,925, Q1 = 4,721,703, Q3 = 44,755,349, and the IQR = 40,033,646.
The next genre is Comedy and the data calculations are: mean = 28,653,208, standard deviation = 33,263,412.48, the five-point summary: median = 10,616,104, max = 150,157,400, min = 1,359,497, Q1 = 3,461,509, Q3 = 45,216,161, and the IQR is 41,754,652.
The data calculations for the genre Crime are: mean = 26,341,667, standard deviation = 16,671,949.76, the five-point summary: median = 26,307,600, max = 52,543,632, min = 3,322,127, Q1 = 13,757,804, Q3 = 33,680,992, and the IQR = 19,923,188.
The Documentary genre’s data calculations are: mean = 6,417,583, the standard deviation = 6,294,492.38, the five-point summary: median = 2,799,318, max = 17,780,194, min = 1,514,782, Q1 = 1,539,680, Q3 = 10,422,129, and the IQR = 8,882,449.
The next genre is Drama and the calculations for this genre are: mean = 24,463,030, standard deviation = 36,532,450.25, the five-point summary: median = 12,846,116, max = 167,767,189, min = 1,359,910, Q1 = 2,641,241, Q3 = 26,412,730, and IQR = 23,771,489.
The final movie genre in this category is Horror and the calculations for this genre are: mean = 31,619,028, standard deviation = 26,121,781.63, the five-point summary: median = 29,136,184, max = 84,273,813, min = 2,756,333, Q1 = 13,993,563, Q3 = 37,060,782, and the IQR = 23,067,219.
Based on these calculations for each movie genre, we are able to determine which genre had a greater variability in the total gross income. With the provided information, the genre with the greater variability would be the Adventure genre. The reason this is the genre with the greater variability is because the difference between Q1 and Q3 is the largest than any other category with it being a difference of 124,424,978.
The next thing that was evaluated with these movie genres was the movie’s length of time in minutes. This information had the median, Q1, Q3, and IQR calculated in order to put it into a box-and-whisker chart. The chart is available for view on the last page. With this information, you are able to see that the Documentary films have the shortest time, while Action and Adventure have the most similar time.
As you can see, statistical measures are very useful as they are a good way to show and evaluate a set of information. Being able to evaluate such information is a good way to see how certain categories of films for example, compare to the other film genres. These statistical measures can of course be used in any business to evaluate and compare information. Knowing how to find the mean, or average, the standard deviation, the five-point summary, and the interquartile range are all helpful to see the similarities and differences between information.