For Exercises 3.17 and 3.18 see page 130; for 3.19 and 3.20, see pages 131–132; for 3.21 and 3.22, see page 134; for 3.23 and 3.24, see page 136; and for 3.25, see page 138.
3.20 Market segmentation and movie ratings.
You wonder if that new “blockbuster” movie is really any good. Some of your friends like the movie, but you decide to check the Internet Movie Database (imdb.com) to see others’ ratings. You find that 2497 people chose to rate this movie, with an average rating of only 3.7 out of 10. You are surprised that most of your friends liked the movie, while many people gave low ratings to the movie online. Are you convinced that a majority of those who saw the movie would give it a low rating? What type of sample are your friends? What type of sample are the raters on the Internet Movie Database? Discuss this example in terms of market segmentation (see, for example, businessplans.org/Segment.html.)