Case Problem 2 Motion Picture Industry:
CASE PROBLEM 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 seems to vary 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.
|Descriptive statistics | | | | |
| | | | | |
| |Opening Gross Sales |Total Gross Sales |Number of Theaters |Weeks in Top 60 |
|count |10 |10 |10 |10 |
|mean |30.1680 |95.8030 |2,482.40 |13.90 |
|sample variance |954.8535 |9,380.9338 |2,020,836.71 |35.88
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 seems to vary 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.
|Descriptive statistics | | | | |
| | | | | |
| |Opening Gross Sales |Total Gross Sales |Number of Theaters |Weeks in Top 60 |
|count |10 |10 |10 |10 |
|mean |30.1680 |95.8030 |2,482.40 |13.90 |
|sample variance |954.8535 |9,380.9338 |2,020,836.71 |35.88