Movie companies need to predict the gross receipts of indi-vidual 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: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 worldwide gross, and U.S. gross and worldwide grossTitleFirst WeekendU.S. GrossWorldwide GrossSorcerers Stone90.295317.558976.458Chamber of Secrets88.357261.988878.988Prisoner of Azkaban93.687249.539795.539Goblet of Fire102.335290.013896.013Order of the Phoenix77.108292.005938.469Half-Blood Prince77.836301.460934.601Deathly Hallows Part 1125.017295.001955.417Deathly Hallows Part 2169.189381.0111,328.111Source: Data extracted from www.the-numbers.com/interactive/comp-HarryPotter.php.c. Which do you think is more valuable in expressing the rela-tionship between first weekend gross, U.S. gross, and world-wide 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. gross, and worldwide gross?