PROJECT-
Part 1- Identify one business organization and consider one aspect of the organization. Gather/obtain data relating to the aspect and organize and summarize the data so that the data can be easily understood and interpreted by the management. Based on the data and what you have done, can any conclusions be made about the aspect of the organization? If yes, why and what conclusions can be made? If not why not and what can be done to make conclusions about the aspect?
Part 2- 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. The opening weekend gross sales, the total gross sales, the number of theaters the movie was shown in, and the number of weeks the motion picture was in the top 60 for gross sales are common variables used to measure the success of a motion picture. Data collected for a sample of 100 motion pictures produced in 2005 are contained in the attachment. (Attachment project two) Table below shows the data for the first 10 motion pictures in the file.
PERFORMANCE DATA FOR 10 MOTION PICTURES
|
Motion Picture
|
Opening
Gross Sales
(Smillions)
|
Total
Gross Sales
(Smillions)
|
Number
of
Theaters
|
Weeks
in Top
60
|
|
Ccach Caner
|
29.17
|
67.25
|
2574
|
16
|
|
Ladies in Lavender
|
0.15
|
6.65
|
119
|
22
|
|
Batman Begins
|
4875
|
205.28
|
3858
|
18
|
|
Unleashed
|
10.90
|
24.47
|
1962
|
8
|
|
Pretty Persuasion
|
0.06
|
0.23
|
24
|
4
|
|
Fever Pitch
|
12.40
|
42.01
|
3275
|
14
|
|
Harry Potter and the Goblet of Fite
|
102.69
|
287.18
|
3858
|
13
|
|
Monster-in-Law
|
23.11
|
82.89
|
3424
|
16
|
|
White Noise
|
24.11
|
55.85
|
2279
|
7
|
|
Mt: and Mrs. Smith
|
50.34
|
186.22
|
3451
|
21
|
Use the numerical methods of descriptive statistics to learn how these variables contribute to the success of a motion picture. 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 motion picture industry.
2. What motion pictures, 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. Discuss.
Important notes on Project-
The intent of the project is to give each of you experience in doing outside research and writing a paper. The project should be on a topic that stretches your abilities in the core competencies while researching an important issue related to your class material.
A project should be based on the topic of statistical process control. Work may be written and presented on one of the following areas:
1. Quantitative vs. Qualitative Analysis
2. Reliability analysis
3. Acceptance Sampling
4. Ordinal Number Analysis
The assignment is to present an application for the statistical methods discussed in the course. Any topic that is related to statistical applications in business is acceptable. The above suggestions are just examples. The purpose of the project is to permit you to independently conduct a literature search and present an important application of statistical knowledge. The concentration of the project should be to discuss the use of the method in a business setting, either by researching one or more examples from the business literature, or by conducting research in the chosen method at a place of work. We want to see that you can focus the topic on its business application.
PLEASE NOTE THE FOLLOWING:
2. Each of the projects listed in the attachment has two parts- PART 1 which involves conducting the research outlined and writing a report on the research and PART 2 which involves providing answers to specific questions relating to application of statistics to business. PART 1 should result in a typed paper of a maximum of 6-8 pages in length (excluding tables and figures) and will be worth a maximum of 60/100 while PART 2 should result in answers to specific questions and will be worth a maximum of 40/100.
4. In each case, the quality of paper written will be graded based on the degree that it contains the following:
- Demonstration of competence in applying statistics to business analysis.
- Adequacy of structure and contents in terms of:
- Quality of the statement of the problem -including the context and citations- Quality of the research design -how the concerns (in the problem section) is translated into the research. In addition, it should show the nature and source of the data (i.e., the data set that you are using in your analysis), the operational measures of your theoretical concepts and the statistical concepts and measures that are used.
- Quality of the data analysis in terms of the results of the statistical tests conducted and how they are presented.
- Quality of the summary and conclusions.