The motion picture industry is a competitive business. More than 50 studios produce several hundred new...

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 ($ millions), the total gross sales ($millions), the number of theaters the movie was shown in, and the number of weeks the motion picture was in release are common variables used to measure the success of a movie. Data on the top 100 grossing motion pictures released in 2016 (Box Office Mojo website) are contained in a file named Movies2016. Table 3.10 below shows the data for the first 10 motion pictures in this file.

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.

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