A motion picture industry analyst is studying movies based on epic novels. The following data were obtained for 10 Hollywood movies made in the past five years. Each movie was based on an epic novel. For these data, x, = first-year box office receipts of the movie, x, = total production costs of the movie, X, = total promotional costs of the movie, and x = total book sales prior to movie release. All units are in millions of dollars. X1 X2 X3 X4 85.1 8.5 5.1 4.7 106.3 12.9 5.8 8.8 50.2 5.2 2.1 15.1 130.6 10.7 8.4 12.2 54.8 3.1 2.9 10.6 30.3 3.5 1.2 3.5 79.4 9.2 3.7 9 .7 91.0 9.0 7.6 5.9 135.4 15.1 7.7 20.8 89.3 10.2 4.5 7.9 (a) Generate summary statistics, Including the mean and standard deviation of each variable. Compute the coefficient of variation for each variable. (Use 2 decimal places.) CV % % * 3 % 1% Relative to its mean, which variable has the largest spread of data values? O X 4 O X2 O X 1 O X 3 Why would a variable with a large coefficient of variation be expected to change a lot relative to its average value? Although x, has the largest standard deviation, it has the smallest coefficient of variation. How does the mean of x, help explain this? O A variable with a large CV has large s relative to x. Here, x, has a small CV because we divide by a small mean. A variable with a large CV has large s relative to x. Here, x , has a small CV because we divide by a large mean. O A variable with a large CV has small s relative to x. Here, x, has a small CV because we divide by a large mean. O A variable with a large CV has small s relative to x. Here, x, has a small CV because we divide by a small mean. (b) For each pair of variables, generate the correlation coefficient r. Compute the corresponding coefficient of determination . (Use 3 decimal places.) X11X2 X1 1X3 X21XA X31 X4 Which of the three variables x2, X3, and x, has the least influence on box office receipts? O X3 O X 2 O X 4