Question
Movie companies need to predict the gross receipts of individual movies once a movie has debuted. The data, shown in the next column and stored
Movie companies need to predict the gross receipts of individual movies once a movie has debuted. The data, shown in the next column and stored in PotterMovies , are the first weekend gross, the U.S. gross, and the worldwide gross (in $ millions) of the eight Harry Potter movies:
Title | First Weekend | US Gross | Worldwide Gross |
Sorcerer's Stone | 90.295 | 317.558 | 976.458 |
Chamber of Secrets | 88.357 | 261.988 | 878.988 |
Prisoner of Azkaban | 93.687 | 249.539 | 795.539 |
Goblet of Fire | 102.335 | 290.013 | 896.013 |
Order of the Phoenix | 77.108 | 292.005 | 938.469 |
Half-Blood Prince | 77.836 | 301.460 | 934.601 |
Deathly Hallows Part I | 125.017 | 295.001 | 955.417 |
Deathly Hallows Part II | 169.189 | 381.011 | 1328.111 |
a. Compute the covariance between first weekend gross and U.S. gross, first weekend gross and worldwide gross, and U.S. gross and worldwide gross.
b. Compute the coefficient of correlation between first weekend gross and U.S. gross, first weekend gross and
c. Which do you think is more valuable in expressing the relationship between first weekend gross, U.S. gross, and worldwide grossthe covariance or the coefficient of correlation? Explain.
d. Based on (a) and (b), what conclusions can you reach about the relationship between first weekend gross, U.S.
PLEASE EXPLAIN YOUR ANSWER AND I'LL MARK MOST HELPFUL
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