5. We are interested in estimating the average amount of money that was made on opening weekend by allfilms that opened in the US from 2003 – 2007. Provide your best estimate, based on your data. (Assume thepopulation standard deviation is $9.71 million by previous knowledge.)
6. Studio XYZ knows that their films made an average of $45 million on opening weekends from 2003 – 2007.Did Studio XYZ films do better than the industry as a whole? Use your results to decide. HINT – Our initialassumption would be that Studio XYZ made the same amount on opening weekend as the industry as a whole,and we are interested in proving, if possible, that the industry average is lower than Studio XYZ’s average.(Assume the population standard deviation is $9.71 million by previous knowledge.)
