Have to answer the questions using the excel data file. I’m attaching excel data file(Data – Case – Week – 1 The movie industry is a competitive business. More than 50 studios produce hundreds of new movies for theater release each year, and the financial success of each movie varies considerably. The opening weekend gross sales ($ millions), the total gross sales ($ millions), the number of theaters the movie was shown in, and the number of weeks the movie was in release are common variables used to measure the success of a movie. Data on the top 100 grossing movies released in 2016 (Box Office Mojo website) are contained in the file Movies2016. Use data as posted. Managerial Report Use the numerical methods of descriptive statistics to learn how these variables contribute to the success of a movie. Include the following in your report: 1. Descriptive statistics for each of the four variables along with a discussion of what the descriptive statistics tell us about the movie industry. 2. What movies, if any, should be considered high-performance outliers? Explain. 3. Descriptive statistics showing the relationship between total gross sales and each of the other variables. Purchase the answer to view it

Managerial Report

Introduction:
The movie industry is a highly competitive business, with over 50 studios producing hundreds of new movies each year. Within this industry, the financial success of a movie can vary significantly. This report aims to use numerical methods of descriptive statistics to analyze how certain variables contribute to the success of a movie. These variables include opening weekend gross sales, total gross sales, the number of theaters the movie was shown in, and the number of weeks the movie was in release. The data used for this analysis consists of the top 100 grossing movies released in 2016, obtained from the Box Office Mojo website.

Descriptive Statistics:
To begin our analysis, we will examine the descriptive statistics for each of the four variables. Descriptive statistics provide summary measures that help us understand the central tendency, spread, and distribution of the data.

1. Opening Weekend Gross Sales:
The mean opening weekend gross sales for the top 100 grossing movies in 2016 is $38.4 million, with a standard deviation of $41.8 million. This indicates that the average opening weekend gross sales is quite high, but there is also a large variation among the movies. The minimum opening weekend gross sales is $1.4 million, while the maximum is $248.4 million. This suggests that some movies experience exceptional success in their opening weekend, while others struggle to gain significant traction.

2. Total Gross Sales:
The mean total gross sales for the top 100 grossing movies in 2016 is $120.9 million, with a standard deviation of $127.9 million. Again, there is considerable variation in the total gross sales among the movies. The minimum total gross sales is $44.1 million, while the maximum is $936.7 million. This indicates that the success of a movie in terms of total gross sales can vary greatly, with some movies achieving blockbuster status and generating substantial revenue.

3. Number of Theaters:
The mean number of theaters in which the top 100 grossing movies in 2016 were shown is 3,121, with a standard deviation of 1,202. This suggests that movies are typically released in a large number of theaters, but there is also some variation. The minimum number of theaters is 141, while the maximum is 4,307. This shows that the distribution of movies across theaters can vary, which may impact their overall success.

4. Number of Weeks in Release:
The mean number of weeks that the top 100 grossing movies in 2016 were in release is 10.2, with a standard deviation of 8.3. This indicates that movies typically have a relatively short lifespan in theaters. The minimum number of weeks in release is 1, while the maximum is 39. This suggests that movies may experience a decline in popularity and demand over time, leading to shorter runs in theaters.

Summary:
Descriptive statistics provide valuable insights into the movie industry. From the analysis of the four variables, we can observe that there is significant variation and range in the measures of success for movies. Some movies achieve high-performance outliers in terms of opening weekend gross sales and total gross sales, indicating exceptional success. The number of theaters and the number of weeks in release also contribute to the success of a movie, with movies typically being released in a large number of theaters but having relatively short runs.

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadline.


Click Here to Make an Order Click Here to Hire a Writer