Motion Picture Industy ((answer attached))

Motion Picture Industy

 

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.  Table 3.15 shows the data for the first 10 motion pictures in the file.

Managerial Report

Use the numerical methods of descriptive statistics presented in this chapter to learn how these variables contribute to the success of a motion picture.  Include the following in your report.

1.    
Descriptive statistics for each of the four variables along with a discussion of what the descriptive statistics tell us about the motion picture industry.

2.    
What motion pictures, if any, should be considered high-performance outliers? Explain.

3.    
Descriptive statistics showing the relationship between total gross sales and each of the other variables.  Discuss.

Table 3.15 PEFORMANCE DATA FOR 10 MOTION PICTURES

Motion Picture                  Opening Weekend       Total Gross Sales       Number of Theatres   Weeks in Top 60

Coach Carter                         29.17 million         67.25                            2574                             16

Ladies in Lavender                0.15 million             6.65                                119                                 22

Batman Begins                     48.75 million           205.28                            3858                               18

Unleashed                              10.90 million           24.47                              1962                                8

Pretty Persuasion                 0.06 million            0.23                                 24                                   4

Fever Pitch                           12.40 million          42.01                               3275                                14

Harry Potter                         102.69 million         287.18                             3858                                13

Monster in Law                      23.11 million         82.89                               3424                                 16

White Noise                           24.11 million         55.85                               2279                                  7

Mr and Mrs Smith                  50.34 million         186.22                             3451                                 21