Case 2: Motion Picture IndustryThe motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new motion pictures each year, and the financial success of each motion picture varies considerably. The opening weekend gross sales, the total gross sales, the number of theaters the movie was shown in, and the number of weeks the motion picture was in the top 6
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Case 2: Motion Picture Industry
The motion picture industry is a competitive business. More than 50 studios produce a total of 300 to 400 new motion pictures each year, and the financial success of each motion picture varies considerably. The opening weekend gross sales, the total gross sales, the number of theaters the movie was shown in, and the number of weeks the motion picture was in the top 60 for gross sales are common variables used to measure the success of a motion picture. Data collected for a sample of 100 motion pictures produced in 2005 are contained in the file named “Movies”.
Prepare a statistical report (as guided by your lecturer and the information provided to you), and use the method of descriptive statistics you learned so far to summarise the data and comment on your findings. At minimum your report should include the followings:
a) What are the variables in this sample data, and what are the types of these variables?
b) Descriptive statistics for each of the four variables along with a discussion of what the descriptive statistics tell us about the motion picture industry.
c) What motion pictures, if any, should be considered high performance? Explain
d) Descriptive statistics showing the relationship between total gross sales and each of the other variables. Discuss.
References
Hsu, H. P. (2011). Probability, random variables and random processes. New York: McGraw-Hill.
Sternstein, M. (2012). AP statistics. Hauppauge, N.Y: Barron's Educational Series.
Salkind, N. J. (2011). Excel statistics: A quick guide. Los Angeles: SAGE.
Utts, J. M., Heckard, R. F. & MacGillivray, H. (2011). Mind on Statistics, 1st edition. Cengage Learning. Australia: Pty Limited.
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