Movie companies need to predict the gross receipts of individual movies after a movie has debuted. The accompanying results are the first weekendgross, the nationalgross, and the worldwide gross(in millions ofdollars) of six movies. Complete parts(a) through(d) below.

Title First_Weekend National_Gross Wordwide_Gross

Movie_A 90.205 317.296 976.604

Movie_B 88.156 261.031 878.166

Movie_C 93.199 249.053 795.702

Movie_D 102.172 290.997 896.268

Movie_E 77.145 292.667 938.563

Movie_F 77.773 301.972 934.437

a. Compute the covariance between first weekend gross and nationalgross, first weekend gross and worldwidegross, and national gross and worldwide gross.

Find the covariance between first weekend gross and national gross.

nothing

(Round to four decimal places asneeded.)

Find the covariance between first weekend gross and worldwide gross.

nothing

(Round to four decimal places asneeded.)

Find the covariance between national gross and worldwide gross.

nothing

(Round to four decimal places asneeded.)

b. Compute the coefficient of correlation between first weekend gross and nationalgross, first weekend gross and worldwidegross, and national gross and worldwide gross.

Find the coefficient of correlation between first weekend gross and national gross.

nothing

(Round to three decimal places asneeded.)

Find the coefficient of correlation between first weekend gross and worldwide gross.

nothing

(Round to three decimal places asneeded.)

Find the coefficient of correlation between national gross and worldwide gross.

nothing

(Round to three decimal places asneeded.)

c. Which is more valuable in expressing the relationship between first weekendgross, nationalgross, and wordwidegross, the covariance or the coefficient ofcorrelation? Explain.

A.

The coefficient ofcorrelation, because it can prove that there is a causation effect between each pair of variables.

B.

Thecovariance, because it reflects the differences between each pair of variables.

C.

The coefficient ofcorrelation, because it measures the relative strength of a linear relationship between each pair of variables.

D.

Thecovariance, because it measures the relative strength of a linear relationship between each pair of variables.

d. Based on(a) and(b), what conclusions can be reached about the relationship between first weekendgross, nationalgross, and worldwidegross?

A.

There is a weak positive linear relationship between first weekend gross and national gross. There is no relationship between first weekend gross and worldwide gross. There is a strong positive linear relationship between national gross and worldwide gross.

B.

There is a strong negative linear relationship between first weekend gross and both national gross and worldwide gross. There is a strong positive linear relationship between national gross and worldwide gross.

C.

There is a weak negative linear relationship between first weekend gross and both national gross and worldwide gross. There is a strong positive linear relationship between national gross and worldwide gross.

D.

There is a weak positive linear relationship between first weekend gross and both national gross and worldwide gross. There is a strong negative linear relationship between national gross and worldwide gross.