Answered step by step
Verified Expert Solution
Question
1 Approved Answer
It has been suggested that the average cost to produce a major studio movie in the recent yearsis $65 million. Is it reasonable to suggest
It has been suggested that the average cost to produce a major studio movie in the recent yearsis $65 million. Is it reasonable to suggest that, on average, movies were cheaper to make pre-pandemic? We took a random sample ofmovies produced pre-pandemic (in the year 2018) and recorded the production budget (in millions of dollars) for each movie selected. Using this data, we would like to assess if, on average, the production budget for all movies produced pre-pandemic was less than $65 million.