Reference no: EM131909411

Q1: Studios believe that one important predictor of movie revenue is the release data. More big films might be released during the summer months to take advantage of the surge in demand, since many young people have more free time when school lets out for the summer. Of course, studios might choose to release their movies at other times when there might be less competition. Another good time might be the holidays when more people have time off to go to movies.

Is the proportion of the films released during the three months of summer greater than 0.25, i.e. 3/12? What does it mean?

Use pie chart to show the relative frequency of summer release of these films versus other seasons.

Q2: Another important factor in determining movie revenues is genre. Certain film types such as comedies might have a broader appeal than other types, e.g., horror films.

•  Create a table to compare the average and standard deviation of Total Domestic Gross (TDG) for the following four types of films: Action, Comedy, Drama, and Horror.
•  Create a column chart to show the comparison of the average TDG across the four types. Explain your findings. Q3: A good indicator of one film's success is its First Weekend Revenue. It not only suggests audiences' interests into the film, but also predicts the stream of future revenue later on. Does our sample show any relation between First Weekend Revenue and Total Domestic Gross? Create a scatter plot and illustrate.Q4: To better understand the average Total Domestic Gross (TDG) for the whole movie market, construct a 95% confidence interval for the population mean of TDG. Q5: An interesting factor for TDG is movie's Motion Picture Association of America (MPAA) rating. An R rating, for instance, might prevent many younger moviegoers from seeing the movie, which can reduce its revenue potential.
•  Use Excel to calculate the sample average Total Domestic Gross (TDG) for each of the four MPAA rating categories (R, PG-13, PG and G). Create a column chart to illustrate.
•  Set up a hypothesis test to determine if a statistically significant difference in population average TDG exists between G and R.
•  Also test if there is any statistically significant difference between average TDG of PG and R? (1 point) Q6: Speaking of the genre, conventional wisdom believes that Comedy films have a broader appeal than other types of films, for instance, action films, but you disagree. Set up a hypothesis test to prove that the conventional wisdom is not true, i.e. the average TDG for comedy is less than that for action movies.