Case Problem: The Motion Picture Industry The motion picture industry is a compe
ID: 3041868 • Letter: C
Question
Case Problem: The Motion Picture Industry
The motion picture industry is a competitive business. More than 50 studios produce several hundred new motion pictures each year, and the financial success of the motion pictures 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 release are common variables used to measure the success of a motion picture. Data on the top 100 grossing motion pictures released in 2011 (Box Office Mojo website, March 17, 2012) are contained in a file named 2011 Movies. This case provides you the opportunity to use numerical measures to analyze the motion picture industry data. Developing and interpreting descriptive statistics such as the mean, median, standard deviation and range are emphasized. Five-number summaries and the identification of outliers is also of interest.
a) Please calculate the following descriptive statistics for the variables listed in the table (You can use excel to perform the calculations.)
Variable
Mean
Standard
Deviation
Minimum
Q1
Median
Q3
Maximum
IQR
Opening Gross Sales
Total Gross Sales
Number of Theaters
Weeks in Release
b) Please interpret the results.
Opening Weekend Gross Sales:
Total Gross Sales:
Number of Theaters:
Number of Weeks in Release:
General Observations:
c) Please calculate the upper limits for outliers for each variable. And list the outliers if any.
Opening Weekend Gross Sales:
Total Gross Sales:
Number of Theaters:
Number of Weeks in Release:
d) Please compute the sample correlation coefficient between total gross sales and each of the other three variables and comment on the results. (You can use excel to perform the calculations)
Total Gross Sales and opening weekend gross sales:
Total Gross Sales and number of theaters
Total gross sales and number of weeks in Release:
Opening Gross Total Gross Sales Sales (Smillions)(Smillions) Number of Theaters Weeks in Release Motion Picture Harry Potter and the Deathly Hallows Part 2 Transformers: Dark of the Moon The Twilight Saga: Breaking Dawn Part 1 The Hangover Part II Pirates of the Caribbean: On Stranger Tides Fast Five Mission: Impossible - Ghost Protocol Cars 2 Sherlock Holmes: A Game of Shadows 381.01 352.39 281.29 254.46 241.07 209.84 208.55 4,088 4,066 3,675 97.85 15 86.20 12.79 15 13 3,793 3,703 3,963 3,691 3,715 13 186.59 181.03 176.76 176.65 65.72 Rise of the Planet of the Apes Captain America: The First Avenger 65.06 2,958 3,952 3,963 3,692 3,842 3,427 3,734 3,424 3,923 26.25 47.66 34.08 169.11 165.25 149.26 Bridesmaias ung Fu Panda 2 Puss in Boots X-Men: First Class 18 21 13 39.23 143.62 The Smurfs Alvin and the Chipmunks: Chipwrecked 23.24 35.45 38.08 28.30 127.00 123.48 117.54 116.60 108.09 104.03 103.03 102.36 100.29 100.24 99.97 98.78 94.24 18 Kango Horrible Bosses Green Lantern 37.54 52.57 3,616 Paranormal Activity 3 Just Go With It The Girl with the Dragon Tattoo (2011) Bad Teacher Cowboys & Aliens Gnomeo and Juliet The Green Hornet The Lion King (in 3D) 2,950 3,049 3,754 3,037 12 36.43 25.36 33.53 19Explanation / Answer
We calculate the descriptive statistics for each of the four variables. Then, we will calculate Z-scores for each movies parameters to see if there are any positive outliers (z-values above 3).
To determine relationship of total gross sales with other parameters, we will calculate the correlation between them.
Z-values Movie Opening Gross Total Gross Theaters Weeks in release Opening Gross Total Gross Theaters Weeks in release 1 169.19 381.01 4375 19 1.87330 1.88574 1.64223 0.68323 2 97.85 352.39 4088 15 0.28262 1.47759 0.53402 -0.40994 3 138.12 281.39 4066 14 1.18053 0.46507 0.44907 -0.68323 4 85.95 254.46 3675 16 0.01728 0.08103 -1.06071 -0.13665 5 90.15 241.07 4164 19 0.11093 -0.10992 0.82749 0.68323 6 86.2 209.84 3793 15 0.02285 -0.55529 -0.60507 -0.40994 7 12.79 208.55 3555 13 -1.61398 -0.57368 -1.52407 -0.95652 8 66.14 191.45 4115 25 -0.42443 -0.81754 0.63828 2.32299 9 39.64 186.59 3703 13 -1.01530 -0.88685 -0.95259 -0.95652 10 65.72 181.03 3963 16 -0.43379 -0.96614 0.05136 -0.13665 Mean 85.175 248.778 3949.7 16.5 Median 86.075 225.455 4014.5 15.5 Variance 2011.40 4917.12 67069.12 13.39 SD 44.85 70.12 258.98 3.66 Correation Total gross Opening 0.785347713 Theaters 0.600169475 Weeks 0.01514347Related Questions
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