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? 60 58 55 53 47 45 44 43 25 25 20 18 7 5

In order to find the variance and deviation we need to find the mean with this formula:

And replacing we got:

Now we can find the variance with the following formula:

And replacing we got:

And the standard deviation would be:

For this case since the range observed is large is better to use a measure of variation in order to check the spread of the values and take a decision useful

Step-by-step explanation:

For this case we have the following dataset:

60 58 55 53 47 45 44 43 25 25 20 18 7 5

We can find the range with this formula:

And replacing we got:

In order to find the variance and deviation we need to find the mean with this formula:

And replacing we got:

Now we can find the variance with the following formula:

And replacing we got:

And the standard deviation would be:

For this case since the range observed is large is better to use a measure of variation in order to check the spread of the values and take a decision useful

addition

step-by-step explanation: