Revenue ($) 32,090 21,700 19,930 20,850 24,950 21,200 23,250 25,500 23,880 26,40

Question

Revenue ($) 32,090 21,700 19,930 20,850 24,950 21,200 23,250 25,500 23,880 26,400 26,500 25,490 25,685 25,200 22,200 20,635 21,250 23,700 22,650 33,900 26,000 19,800 13,700 21,830 18,740 23,820 23,300 16,700 22,440 19,710 Marvel Studio's motion picture Guardians of the Galaxy opened over the first two days of the 2014 Labor Day weekend to a record-breaking $94.3 million in ticket sales revenue in North America (The Hollywood Reporter, August 3, 2014). The ticket sales revenue in dollars for a sample of 30 theaters is as follows. a. What is the 95% confidence interval estimate for the mean ticket sales revenue per 22. theater? Interpret this result. Using the movie ticket price of $8.11 per ticket, what is the estimate of the mean number of customers per theater? The movie was shown in 4080 theaters. Estimate the total number of customers who saw Guardians of the Galaxy and the total box office ticket sales for the weekend. b. c.

Explanation / Answer

Ans A). Interval estimate = mean +/- ( Z(95%) X Stdev/ Squareroot(N))

=23100 +/- 1.96* 3914.9/ squareroot(30)

= 23100 +/- 1401

Interval estimate= 21699 to 24501

Ans B).  

Interval estimate = mean +/- ( Z(95%) X Stdev/ Squareroot(N))

=2848 +/- 1.96* 482.7/ squareroot(30)

= 2848 +/- 172.7

Interval estimate= 2675 to 3020

Ans C) Total customers = Mean number of people in theatre * total theatre

=2848 * 4080

Total sales = total customers X $ 8.11

=2848 * 4080 * 8.11 $

Mean Customer per theatre 3957 2676 2457 2571 3076 2614 2867 3144 2945 3255 3268 3143 3167 3107 2737 2544 2620 2922 2793 4180 3206 2441 1689 2692 2311 2937 2873 2059 2767 2430

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