Case problem: 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. Gross sales opening weekend, the total gross sales, the number of theaters the movie was shown in, and the number of weeks the motion picture was open are common variables used to measure the success of a motion picture. Data collected sample of 100 motion pictures produced in 20XX are contained in the file named Movies.
Use all 100 data points. Managerial Report Prepare a report (see below) using the numerical methods of descriptive statistics presented in this module to learn how each of the variables contributes to the success of a motion picture. Be sure to include the following three (3) items in your report.
1. Descriptive statistics (mean, median, range, and standard deviation) of the four variables along with an explanation of what the descriptive statistics tell us about the motion picture industry.
2. Use the z-score to determine which movies, if any, should be considered high-performance outliers in each of the four variables. If there are any outliers in any category, please list them and state category they are an outlier. Describe which method you used to make your determination.
3. Descriptive statistics (correlation coefficient) showing the relationship between total gross sales and each of the other three variables. Evaluate the relationships between median household income (in dollars) and each of the other three variables.
Use tables, charts, graphs, or visual dashboards to support your conclusions. Your report must contain the following:
An introduction that summarizes the problem.
The body of the paper should answer the questions posed in the problem by communicating the results of your analysis.
Include results of calculations, as well as charts and graphs, where appropriate.
A conclusion paragraph that addresses your findings and what you have determined from the data and your analysis.