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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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