Motion Picture Industry

Topics: Median, Arithmetic mean, Standard deviation Pages: 4 (1094 words) Published: March 27, 2013
Case Problem 2: The Motion Picture Industry

This case provides the student with the opportunity to use numerical measures to continue the analysis of the motion picture industry data first presented in Chapter 2. Developing and interpreting descriptive statistics such as the mean, median, standard deviation and range are emphasized. Five-number summaries and the identification of outliers are also of interest. Interpretations and insights can vary. We illustrate some below.

Descriptive Statistics

Variable N Mean SE Mean StDev Range Opening Gross 100 9.38 1.89 18.87 108.43 Total Gross 100 33.04 6.32 63.16 380.15 Number of Theaters 100 1278 138 1379 3905

Weeks in Top 60 100 8.680 0.639 6.390 26.000

Variable MinimumQ1 Median Q3 Maximum Opening Gross 0.0100 0.0625 0.395 12.49 108.44 Total Gross 0.0300 0.375 5.854 47.69 380.18 Number of Theaters 5.00 45.3 410 2732 3910 Weeks in Top 60 1.000 3.000 7.000 13.000 27.000

Interpretation

Opening Weekend Gross Sales. The mean opening weekend gross sales is $9.38 million. The five-number summary is .01, .0625, .395, 12.49 and 108.44. Thus the opening weekend gross sales is highly variable and ranges from a low of $10,000 to a high of $108.44 million. 50% of the motion pictures had an opening weekend gross sales of $395,000 or less, and 25% had a relatively low opening weekend gross sales of $62,500 or less. The top 25% of the motion pictures had an opening weekend gross sales of $12.49 million or more.

Total Gross Sales. The mean total gross sales is $33.04 million. The five-number summary is .03, .375, 5.854, 47.69 and 380.18. Thus the total gross sales is also highly variable and ranges from a low of $30,000 to a high of $380.18 million. 50% of the motion pictures...
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