Description
Option 1 - Motion Picture Industry
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.
Write a report that adheres to the Written Assignment Requirements under the heading “Expectations for CSU-Global Written Assignments” found in the CSU-Global Guide to Writing and APA Requirements. As with all written assignments at CSU-Global, you should have in-text citations and a reference page. An example paper is provided in the MTH410 Guide to Writing with Statistics, linked at the bottom of the page. (ATTACHED)
Your report must contain the following:
- A title page in APA style.
- An introduction that summarizes the problem.
- The body of the paper should answer the questions posed in the problem by communicating the results of your analysis. Include results of calculations, as well as charts and graphs, where appropriate.
- A conclusion paragraph that addresses your findings and what you have determined from the data and your analysis.
Submit your Excel file in addition to your report.
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Explanation & Answer
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Report Title:
CSU-Global Campus
August, 2017
Introduction
After collecting data for statistical test, the data should analyzed to understand its properties.
Properties of the data can be analyzed and understood based on the descriptive statistical measures
including mean, median, mode, range, standard deviation, correction etc. (Keller, 2014). Also, outliers in
the data set, if any, should pointed out and removed to make the results of future statistical tests reliable.
This paper aims at measuring descriptive statistics, finding out the outlier values, and observing
the association in among the valuables (opening gross sales, total gross sales, total number of theaters in
which movie has been displayed, and total number of weeks for which movie was displayed )in the data
set of 100 movies of Hollywood.
Analysis of Data of Movies
Descriptive Statistics
Measures of Central Location
Mean and median are the measures of central locations. Mean is the central or typical value in a
dataset (Keller, 2014). Median is the central (middle) value when values are ranked or ordered from the
ascending or descending order (Shenoy, Srivastava, & Sharma, 2005).
The mean of opening gross sales, total gross sales, total number of theaters in which movie has
been displayed, and total number of weeks for which movie was displayed are $27723302.22,
$93060788.74, 3110.74 theaters, and 15.71 weeks respectively (Figure 1). The mean of the opening gross
sales, total gross sales, total number of theaters in which movie has been displayed, and total number of
weeks for which movie was displayed of $27723302.22, $93060788.74, 3110.74 theaters, and 15.71
weeks respectively imply that central or typical value of the opening gross sales, total gross sales, total
number of theaters in which movie has been displayed, and total number of weeks for which movie was
displayed are $27723302.22, $93060788.74, 3110.74 theaters, and 15.71 weeks.
The median of opening gross sales, total gross sales, total number of theaters in which movie has
been displayed, and total number of weeks for which movie was displayed are $20439458.50,
$63113001.00, 3114.50 theaters, and 13.00 weeks respectively (Figure 1). The median value of the
opening gross sales, total gross sales, total number of theaters in which movie has been displayed, and
total number of weeks for which movie was displayed of $20439458.50, $63113001.00, 3114.50 theaters,
and 13.00 weeks respectively imply that the central (middle) value when values of the opening gross
sales, total gross sales, total number of theaters in which movie has been displayed, and total number of
weeks for which movie was displayed are ranked or ordered from the ascending or descending order are
$20439458.50, $63113001.00, 3114.50 theaters, and 13.00 weeks respectively.
Descriptive Statistics (Measure of Central Location)
Particulars
Opening Gross
Total Gross
Theaters
Measure of Central
Location:
Mean
Median
27723302.22
20439458.50
93060788.74
63113001.00
3110.71
3114.50
Weeks
15.71
13.00
Figure 1: Descriptive Statistics (Measure of Central Location)
Measures of Dispersion
Range and standard deviation are the measures of dispersion of a data set. Range is the difference
of maximum and minimum value of the data set (Keller, 2014). Standard deviation is the spread of a data
value from the mean of the data set (Shenoy, Srivastava, & Sharma, 2005).
The range of opening gross sales, total gross sales, total number of theaters in which movie has
been displayed, and total number of weeks for which movie was displayed are $127902158.00,
$388411234.00, 4317.00 theaters, and 184 weeks respectively (Figure 2). The range of the opening gross
sales, total gross sales, total number of theaters in which movie has been displayed, and total number of
weeks for which movie was displayed reflects the difference of maximum and minimum value of the
opening gross sales, total gross sales, total number of theaters in which movie has been displayed, and
total number of weeks for which movie was displayed of 100 movies.
The standard deviation of opening gross sales, total gross sales, total number of theaters in which
movie has been displayed, and total number of weeks for which movie was displayed are $24189997.60,
$76836277.43, 603.45 theaters, and 18.08 weeks respectively (Figure 2). The standard deviation value of
the opening gross sales, total gross sales, total number of theaters in which movie has been displayed, and
total number of weeks for which movie was displayed of $24189997.60, $76836277.43, 603.45 theaters,
and 18.08 weeks imply that the value of the opening gross sales, total gross sales, total number of theaters
in which movie has been displayed, and total number of weeks for which movie was displayed are ranked
or ordered from the ascending or descending order can deviate from the mean value by $24189997.60,
$76836277.43, 603.45 theaters, and 18.08 weeks respectively.
Descriptive Statistics (Measure of Dispersion)
Particulars
Opening Gross
Total Gross
Theaters
Measure of
Dispersion:
Range
127902158.00 388411234.00
4317.00
Standard Deviation
24189997.60 76836277.43
603.45
Weeks
184.00
18.08
Figure 2: Descriptive Statistics (Measure of Dispersion)
Outlier in the Dataset
Outlier refers to an observation which is distant from the rest of the observation in a data set
(Keller, 2014). Outliers are markedly deviated observations from the others observations in the data set.
The existence of outliers in the data set affects the outcome of the statistical test. Three ways detect the
outliers in a data set include Z test, modified Z test, and IQR model (NIST SEMATECH, 2016).
Under the Z score model, the value of Z score for each observation is determined. Any z-score
greater than 3 or less than -3 can be treated as an outlier (Ctspedia, 2017). In the data set of 100 movies,
the outlier have found out for Toy Story 3, and Alice in Wonderland (2010) with respect to opening gross
sales and total gross sales, Iron Man 2, and Harry Potter and the Deathly Hallows Part 1with respect to
opening gross sales, and Hubble 3D with respect to total number of theaters in which movie has been
displayed, and total number of weeks for which movie was displayed (implied from the higher value of Z
score than 3) (Figure 3). As for all these, Z score are more than three, the data set are said to be positively
skewed (right skewed) for these outliers (Ross, 2014).
Movie Title
Toy Story 3
Alice in Wonderland
(2010)
Iron Man 2
The Twilight Saga:
Eclipse
Harry Potter and the
Deathly Hallows Part 1
Inception
Despicable Me
Shrek Forever After
How to Train Your
Dragon
Tangled
The Karate Kid
Tron Legacy
True Grit
Clash of the Titans (2010)
Grown Ups
Little Fockers
Megamind
The King's Speech
The Last Airbender
Shutter Island
The Other Guys
Salt
Jackass 3-D
Valentine's Day
Black Swan
Robin Hood
The Chronicles of Narnia:
The Voyage of the Dawn
Treader
The Expendables
Due Date
Yogi Bear
Date Night
The Social Network
Sex and the City 2
Z Score
Opening
Total Gross
Gross
3.41
4.19
3.95
3.14
Theaters
Weeks
1.52
1.04
0.46
0.13
5.30
-2.61
2.86
2.70
2.12
2.25
-0.04
0.02
4.17
2.64
1.68
0.24
2.60
2.33
2.93
1.81
2.60
2.06
1.90
1.62
1.13
0.81
2.11
1.57
0.51
0.68
0.02
0.07
2.02
2.30
1.82
1.03
2.53
1.67
1.27
1.90
0.01
1.67
1.70
1.47
1.49
2.08
2.33
0.06
1.49
0.99
1.40
1.09
1.03
1.02
0.91
0.90
0.72
0.72
0.55
0.50
0.45
0.34
0.33
0.31
0.23
0.18
0.16
0.15
0.82
1.04
0.56
0.59
1.15
0.70
0.94
1.39
-0.87
0.15
0.41
0.90
0.83
0.05
0.92
-1.17
0.65
0.74
0.62
-0.04
0.07
0.13
0.02
0.13
-0.21
0.02
0.13
-0.21
0.02
-0.04
-0.09
-0.09
-0.21
0.35
-0.21
0.13
1.44
1.35
0.68
1.04
0.93
1.28
0.13
0.10
0.09
0.07
0.05
0.03
0.48
0.42
0.67
0.45
-0.31
0.55
-0.32
-0.21
0.02
0.35
0.35
-0.21
The Book of Eli
The Fighter
The Town
Prince of Persia: The
Sands of Time
Red
Percy Jackson & The
Olympians: The Lightning
Thief
Paranormal Activity 2
Unstoppable
Eat Pray Love
Dear John
The A-Team
Knight & Day
Dinner for Schmucks
The Tourist
The Bounty Hunter
Diary of a Wimpy Kid
The Sorcerer's Apprentice
A Nightmare on Elm
Street (2010)
The Last Song
The Wolfman
Get Him to the Greek
Resident Evil: Afterlife
Tyler Perry's Why Did I
Get Married Too?
Tooth Fairy
Secretariat
Easy A
Takers
Legend of the Guardians:
The Owls of Ga'Hoole
Life as We Know It
Letters to Juliet
Wall Street: Money Never
Sleeps
Predators
Hot Tub Time Machine
Kick-Ass
Killers
1.36
0.01
0.98
1.24
0.02
0.01
-0.01
-0.03
0.00
-0.96
-0.29
0.89
0.07
0.02
0.02
0.07
0.90
1.29
-0.03
-0.06
0.39
0.47
0.02
0.24
1.68
0.94
0.96
1.26
1.06
0.83
0.97
0.68
0.86
0.91
0.73
1.36
-0....