Question
In: Statistics and Probability
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 ($millions), the number of theaters the movie was shown in, and the number of weeks the motion picture was in release are common variables used to measure the success of a movie. Data on the top 100 grossing motion pictures released in 2016 (Box Office Mojo website) are contained in a file named Movies2016. Table 3.10 below shows the data for the first 10 motion pictures in this file.
Use the numerical methods of descriptive statistics presented in this chapter to learn how these variables contribute to the success of a motion picture. Include the following in your report:
1. Descriptive statistics for each of the four variables along with a discussion of what the descriptive statistics tell us about the motion picture industry.
2. What motion pictures, if any, should be considered high-performance outliers? Explain.
3. Descriptive statistics showing the relationship between total gross sales and each of the other variables. Discuss.
Solutions
orchestra answered 1 year agoRelated Solutions
he motion picture industry is a competitive business. More than 50 studios produce several hundred new...
he motion picture industry is a competitive business. More than
50 studios produce several hundred new motion pictures each year,
and the financial success of the motion pictures varies
considerably. The opening weekend gross sales, the total gross
sales, the number of theaters the movie was shown in, and the
number of weeks the motion picture was in release are common
variables used to measure the success of a motion picture. Data on
the top 100 grossing motion pictures released...
The motion Picture Industry is a competitive business. More than 50 studios produce a total of...
The motion Picture Industry is a competitive business. More than
50 studios produce a total of 300 to 400 new motion pictures each
year, and financial success of each motion picture varies
considerably. The opening weekend gross sales ($millions), the
total gross sales ($millions), the number of theaters the movie was
shown in, and the number of weeks the motion picture was in the top
60 for gross sales are common variables used to measure the success
of a motion...
The motion picture industry is a competitive business. More than 50 studios produce a total of...
The motion picture industry is a competitive business. More than
50 studios produce a total of 300 to 400 new motion pictures each
year, and the financial success of each motion picture varies
considerably. Gross sales for the opening weekend, the total gross
sales, the number of theaters the movie was shown in, and the
number of weeks the motion picture was open are common variables
used to measure the success of a motion picture. Data collected for
a sample...
The motion picture industry is a competitive business. More than 50 studios produce a total of...
The motion picture industry is a competitive business. More than
50 studios produce a total of 300 to 400 new motion pictures each
year, and the financial success of each motion picture varies
considerably. Gross sales for the opening weekend, the total gross
sales, the number of theaters the movie was shown in, and the
number of weeks the motion picture was open are common variables
used to measure the success of a motion picture. Data collected for
a sample...
In EXCEL: The motion picture industry is a competitive business. More than 60 studios produce a...
In EXCEL:
The motion picture industry is a competitive business. More than
60 studios produce
a total of 300 to 400 new
motion pictures each year, and the financial success of
each motion picture varies
considerably. The opening weekend gross sales ($ millions)
are often used to predict the
success of a motion picture. Data collected for a
sample of 30 motion pictures is shown
below.
Round and label your answers
properly!
Opening Weekend Gross
Sales ($ millions)
Total Gross...
Falero is one of more than a hundred competitive firms in Philadelphia that produce small cardboard boxes for moving
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Tamarind did...
Sanders agreed in writing to write, direct, and produce a motion picture on the subject of...
Sanders agreed in writing to write, direct, and produce a motion
picture on the subject of lithography (a method for printing using
stone or metal) for the Tamarind Lithography Workshop. After the
completion of this film, Four Stones for Kanemitsu, litigation
arose concerning the parties’ rights and obligations under their
agreement. Tamarind and Sanders resolved this dispute by a written
settlement agreement that provided for Tamarind to give Sanders a
screen credit stating: “A Film by Terry Sanders.” Tamarind did...
In a particular market there are several hundred firms, all of the firms produce an identical...
In a particular market there are several hundred firms, all of
the firms produce an identical product, and it is easy to get in
and out of the market. At the current market equilibrium we observe
the following for a typical firm:
P=100
MC=100
ATC=75
Find the firm's marginal revenue
Is this firm maximizing profit? Explain how you can tell.
Find the firm's profit.
What two things must be true for a competitive market to be in
a long run...
assume that the pickle industry is perfectly competitive and has 250 producers. two hundred of these...
assume that the pickle industry is perfectly
competitive and has 250 producers. two hundred of these producers
are high cost producers, each with a short run supply curve given
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a) derive short run industry supply curve for
pickles
b) if the market demand curve for jars of...
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