The Motion Picture Industry

Topics: Median, Standard deviation, Mean Pages: 4 (1337 words) Published: May 21, 2012
The motion picture industry is a competitive, multi-billion dollar industry involving production crews, marketing crews, actors, directors, distribution companies, movie theaters, and movie rental companies. Four variables are commonly used to measure the success of a motion picture; these variables include the opening weekend gross sales, total gross sales, number of theaters showing the movie, and weeks in the top sixty of gross sales. Using a sample of 100 motion pictures from 2005 and numerical methods of descriptive statistics, one can learn how these variables play a part in the success of a motion picture. Opening Weekend Gross Sales

After calculating several central tendency measures (mean, median, and mode), one can create a histogram and see the opening weekend gross sales are heavily skewed to the right. The median opening gross sales of 0.39, indicating 50% of the opening gross sales values were less than 0.39 and 50% were greater than 0.39, would be a more appropriate central tendency measure than the mean due to this skewness (3.43). The range of opening gross sales was 108.43, from 0.01 (Caterina in the Big City) to 108.44 (Star Wars: Episode III), and the standard deviation was 18.87 (√356.2544). However, the interquartile range of 12.37 would be a more appropriate measure of variability because the distribution is skewed and has extreme values. Once a box-plot is created, one can see the extreme values are 108.44 (Star Wars: Episode III), 102.69 (Harry Potter and the Goblet of Fire), 77.06 (War of the Worlds), 50.34 (Mr. and Mrs. Smith), 48.75 (Batman Begins), and 33.90 (Wedding Crashers). Values that are less than z-score of -3 or larger than z-score of +3 should also be considered outliers, so, if using only this criteria, War of the Worlds (z-score: 3.586), Harry Potter and the Goblet of Fire (z-score: 4.944), and Star Wars: Episode III (z-score: 5.248) would have still been considered outliers. Total Gross Sales

As with the opening...