Data 2.7 on page 95 introduces the dataset HollywoodMovies, which contains information on more than 900 movies that came out of Hollywood between 2007 and 2013. We will consider this the population of all movies produced in Hollywood during this time period.

(a) Find the mean and standard deviation for the budgets (in millions of dollars) of all Hollywood movies between 2007 and 2013. Use the correct notation with your answer.

(b) Use StatKey or other technology to generate a sampling distribution for the sample mean of budgets of Hollywood movies during this period using a sample size of \(n=20\). Give the shape and center of the sampling distribution and give the standard error.

Data 2.7:

Over 900 movies came out of Hollywood between 2007 and 2013 and the dataset HollywoodMovies contains lots of information on these movies, such as studio, genre, budget, audience ratings, box office average opening weekend, world gross, and others.