A Movie Critic Wanted to Determine Whether or Not Moviegoers $\quad$

question 94

Short Answer

A movie critic wanted to determine whether or not moviegoers of different age groups evaluated a movie differently. With this objective, he commissioned a survey that asked people their ratings of their most recently watched movies. The rating categories were:
1 = terrible.
2 = fair.
3 = good.
4 = excellent.
Each respondent was also asked to categorise his or her age as either:
1 = teenager.
2 = young adult (20-34).
3 = middle age (35-50).
4 = senior (over 50).
The results are shown below. $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$ $\quad$$\text { Movie Ratings }$
$\begin{array}{|c|c|c|c|}\hline \text { Teenager } & \text { Young Adult } & \text { Middle Age } & \text { Senior } \\\hline 3 & 2 & 3 & 3 \\\hline 4 & 3 & 2 & 4 \\\hline 3 & 3 & 1 & 4 \\\hline 3 & 2 & 2 & 3 \\\hline 3 & 2 & 2 & 3 \\\hline 4 & 1 & 3 & 4 \\\hline 2 & 3 & 1 & 4 \\\hline 4 & 2 & 4 & 3 \\\hline\end{array}$
Use Excel to find the exact p-value for this test.

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Definitions:

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the consumption of the asset.

Cash Payback Period

The duration required for an investment to generate cash flows sufficient to recover the initial cost of the investment.

Salvage Value

The estimated residual value of an asset after its useful life has ended and it can no longer be used for productive purposes.

Net Cash Inflows

The difference between all cash receipts and all cash payments within a particular period, reflecting the net increase in cash available.