Movie Budgets and Grosses The budget (in millions of dollars) and worldwide gross (in millions of dollars) for eight of the most expensive movies ever made are listed in the table below. Budget 300 258 250 210 232 230 225 207 Gross 961 891 937 836 391 576 419 551 The scatter diagram (scatter plot) of the above data is shown below. Budget and Gross of the Most Expensive Movies Ever Made -1000 006- -800 -700- -600 500 -400 -300 -200- 100 50 100 150 200 250 300 Rudget lin millions of dollars) Gross (in millions of dollars)
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
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