The motion picture industry is a competitive business. More than50 studios produce several hundred new motion pictures each year,and the financial success of the motion pictures variesconsiderably. The opening weekend gross sales, the total grosssales ($ millions), the total gross sales ($millions), the numberof theaters the movie was shown in, and the number of weeks themotion picture was in release are common variables used to measurethe success of a movie. Data on the top 100 grossing motionpictures released in 2016 (Box Office Mojo website) are containedin a file named Movies2016. Table 3.10 below shows the data for thefirst 10 motion pictures in this file.
Use the numerical methods of descriptive statistics presented inthis chapter to learn how these variables contribute to the successof a motion picture. Include the following in your report:
1. Descriptive statistics for each of the four variables alongwith a discussion of what the descriptive statistics tell us aboutthe motion picture industry.
2. What motion pictures, if any, should be consideredhigh-performance outliers? Explain.
3. Descriptive statistics showing the relationship between totalgross sales and each of the other variables. Discuss.
