Reference no: EM131238825
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 of 100 motion pictures produced in 20XX are contained in the file named Movies, linked at the bottom of the page. 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.
Descriptive statistics (mean, median, range, and standard deviation) for each of the four variables along with an explanation of what the descriptive statistics tell us about the motion picture industry.
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 for which category they are an outlier. Describe which method you used to make your determination.
Descriptive statistics (correlation coefficient) showing the relationship between total gross sales and each of the other three variables. Evaluate the relationships between total gross sales and each of the other three variables. Use tables, charts, graphs, or visual dashboards to support your conclusions.
|
Determine the percentage of time player a should play
: The following payoff matrix gives the strategies and payoffs for Player A and Player B. Determine the percentage of time Player A should play the A1 strategy. Determine the percentage of time Player B should play the B2 strategy
|
|
What is the main reason for the low inflation rate
: Which of the following questions would most likely to be a topic for a microeconomics class? what would be the impact on competition in the cell phone market if there had been an ATT takeover of T-mobile? what is the main reason for the low inflation..
|
|
Pros and cons of an economy of personal income tax
: What would be the pros and cons of an economy of personal income tax being fully substituted with a sales tax? Please explain why.What are the pros and cons of the government not being involved in the labor market (laissez-fair)?
|
|
How many people were unemployed
: The US labor force, population, and unemployment rate in January 2013 were as follows: Labor Force 155,825,000 Population 315,079,109 Unemployment rate 8.0% Based on these figures: How many people were unemployed? How many more jobs would be required..
|
|
Using numerical methods of descriptive statistics presented
: 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. Prepare a report (see below) using the nume..
|
|
What is competitive equilibrium with and without the tax
: In a perfectly competitive market for coal, consumers’ benefit function from consuming tons of coal , is given by B(Q)= -.25Q^2+240Q In addition, the coal producer has a cost function given by: ?C(Q) =.1Q^2 +2Q. Suppose the government imposes an ad v..
|
|
Function exhibit increasing or decreasing marginal utility
: Consider the quadratic utility function U(x) = x 2 . (a) (1 points) Sketch the shape of this function in a figure analogous to Figure 4.1. (b) (1 point) Does this function exhibit increasing or decreasing marginal utility? (c) (1 point) Is this shape..
|
|
Derive the competitive price and quantity predictions
: Suppose that all of the numbered diamonds and spades from a deck of cards (excluding Ace, King, Queen, and Jack) are used to set up a market. The diamonds determine demands, e.g., a 10 represents a buyer with a redemption value of $10. Graph supply a..
|
|
Firm conducted random survey of community residents
: A consulting firm conducted a random survey of community residents, describing a planned riverside park and then asking each respondent the question: “What is the most that you would be willing to pay to have this park built along the river?” Do you ..
|