Statistics > EXAM > ASSESSMENT TASK 1: Individual Case Study on Descriptive Statistics (20%) Version C Part I: Descripti (All)

ASSESSMENT TASK 1: Individual Case Study on Descriptive Statistics (20%) Version C Part I: Descriptive Case study (10%) Course: ECON1193 – Business Statistics 1 Semester 3, 2017

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ASSESSMENT TASK 1: Individual Case Study on Descriptive Statistics (20%) Version C Part I: Descriptive Case study (10%) Course: ECON1193 – Business Statistics 1 Semester 3, 20171. Jack Valenti,... who is the former president of the Motion Picture Association of America once said: “No one, absolutely no one can tell you what a film is going to do in the marketplace” . Scores may have an effect on movies performances, but they have no power to determine whether those movies are profitable or not (King 2007). No one can make sure that professional ratings are not affected by any factors (Odic et al. 2012). A film which receives high reviews does not mean it is going to be profitable and vice versa. According to the case study, the CGV manager considered that a movie with higher metacritic score will gain higher revenues but this opinion came from his own experiences, which could be defined as a prediction based on knowledge (Kahneman & Tversky 1973). For that reason, it is unable to link an extreme outcome of a movie to a highly rated reviews. [Show More]

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