Teddy Roosevelt runs a high end talent agency (Teddy Bear Management) which mana
ID: 3296177 • Letter: T
Question
Teddy Roosevelt runs a high end talent agency (Teddy Bear Management) which manages actors and actresses around the world. Teddy is brilliant negotiator but dislikes statistics. Teddy approaches you. Teddy says “My business makes a commission of 15% from each actor. I got my clerk to create a table but all these numbers need to make sense to me.”
Name Gender Salary
You are to figure out:
1the average salary per actor, the standard deviation of his pool of actors and what each variable means to Teddy Bear Management
2the average salary and standard deviation of male and female actors and how this analysis can add value to Teddy Bear Management
3the average salary and standard deviation of English, Chinese and Indian actors how this analysis can add value to Teddy Bear Management.
Given your analysis above, recommend courses of action that will maximise his revenue stream for Teddy Bear Management.
Deepika Padukone Female $ 2,000,000.00 Jennifer Lawrence Female $ 3,000,000.00 Brad Pitt Male $ 4,000,000.00 Priyanka Chopra Female $ 4,200,000.00 Aamir Khan Male $ 4,350,000.00 Tom Cruise Male $ 4,800,000.00 Rajesh Hamal Male $ 5,000,000.00 Fan Bing Bing Female $ 5,000,000.00 Will Smith Male $ 5,200,000.00 Scarlett Johansson Female $ 5,200,000.00 Amitabh Bachchan Male $ 5,600,000.00 Vicky Zhao Female $ 5,800,000.00 Liu Yifei Female $ 6,000,000.00 Donnie Yen Male $ 6,200,000.00 Jet Lee Male $ 6,400,000.00 Alia Bhatt Female $ 6,800,000.00 Jackie Chan Male $ 7,050,000.00 Emma Watson Female $ 10,600,000.00Explanation / Answer
1)
The average salary per actor is: $5400000
The standard deviation of this pool is: $1823136
Thus on an average each actor of the Teddy Bear Management will get a salary of $5400000 and thus on an average the Teddy Bear Management will get an average commission of $810000 (15% of $5400000) but this comes with a variation of $1823136.
2)
The standard deviation of female actor is: $2461707
The standard deviation of male actor is: $1001561
The male and female actors of the Teddy Bear Management will on an average get the same salary of $5400000 but when we look at the variation in salary of the male and female actors we see that female actors have a variation of $2461707 and male actors of Teddy Bear Management have a salary variation of $1001561. Thus the male actors of the Teddy Bear Management have a more consistent salary than the female actors and thus they are likely to bring in a more consistent commision even though the average commision is the same.
3)
The standard deviation of indian actor is: $1610098
The standard deviation of english actor is: $2446767
The standard deviation of chineese actor is: $738579.7
Here it is seen that the Chinese actors of the Teddy Bear Management tends to get more salary than the Indian and the English actors and the standard deviation is also less. Thus we can safely say that the salary of the Chineese actors of the Teddy Bear Management is consistent and thus the company is also likely to get a higher consistent commision and from the Chineese actors. Even though th English actors seems to have a higher salary than the Indian actors, The standard deviation/variation of the English actors is also high. Thus the Indian actors seems to get a more consistent salary than the English actors.
4)
SO it is considered best for the Teddy Bear Management to hire more male actors who seem to have a more consistent salary and also it is preffered that the employ Chineese actors (be it male or female). The Chineese actors seems to get a higher salary and also the salary is more consistent.
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