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

Click the icon to view the gross receipts of the six movies.

Title	First Weekend	National Gross	Worldwide Gross
Movie A	90.06290.062		317.097317.097		976.538976.538
Movie B	88.77988.779		261.464261.464		878.756878.756
Movie C	93.29893.298		249.715249.715		795.878795.878
Movie D	102.083102.083		290.632290.632		896.375896.375
Movie E	77.36577.365		292.848292.848		938.856938.856
Movie F	77.55977.559		301.964301.964		934.172934.172

1. 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.

(Round to four decimal places asneeded.)

Part 2

Find the covariance between first weekend gross and worldwide gross.

(Round to four decimal places asneeded.)

Part 3

Find the covariance between national gross and worldwide gross.

(Round to four decimal places asneeded.)

Part 4

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.

(Round to three decimal places asneeded.)

Part 5

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

(Round to three decimal places asneeded.)

Part 6

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

(Round to three decimal places asneeded.)

Part 7

c.Which is more valuable in expressing the relationship between first weekendgross, nationalgross, and worldwidegross, 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.

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

C.

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

D.

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

Part 8

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

A.

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.

B

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.

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 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.