3.47 Movie companies need to predict the gross receipts of individual movies onc

Question

3.47 Movie companies need to predict the gross receipts of individual movies once a movie has debuted. The data, shown below 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: First Weekend U.S. Gross Worldwide Gross Title Sorcerer's Stone Chamber of Secrets Prisoner of Azkaban Goblet of Fire Order of the Phoenix Half-Blood Prince Deathly Hallows Part 1 Deathly Hallows Part 2 317.558 261.988 249.539 290.013 292.005 301.460 90.295 976.458 88.357 878.988 93.687 795.539 102.335 896.013 77.108 77.836 125.017 938.469 934.601 295.001 955.417 169.189 381.011 1,328.111 Source: Data extracted from www.th a. Compute the covariance between first weekend gross and U.S. gross, first weekend

Explanation / Answer

Ansgwer -

a) and b).

by using R-software-

R-code

FW=c(90.295,88.357,93.687,102.335,77.108,77.836,125.017,169.189);FW
USG=c(317.558,261.988,249.539,290.013,292.005,301.460,295.001,381.011);USG
WG=c(976.458,878.988,795.539,896.013,938.469,934.601,955.417,1328.111);WG

cov(FW,USG)
cov(FW,WG)
cov(USG,WG)

cor(FW,USG)
cor(FW,WG)
cor(USG,WG)

Output-

> FW=c(90.295,88.357,93.687,102.335,77.108,77.836,125.017,169.189);FW
[1] 90.295 88.357 93.687 102.335 77.108 77.836 125.017 169.189
> USG=c(317.558,261.988,249.539,290.013,292.005,301.460,295.001,381.011);USG
[1] 317.558 261.988 249.539 290.013 292.005 301.460 295.001 381.011
> WG=c(976.458,878.988,795.539,896.013,938.469,934.601,955.417,1328.111);WG
[1] 976.458 878.988 795.539 896.013 938.469 934.601 955.417 1328.111
>
> cov(FW,USG)
[1] 890.3014
> cov(FW,WG)
[1] 4001.782
> cov(USG,WG)
[1] 6045.573
>
> cor(FW,USG)
[1] 0.7284175
> cor(FW,WG)
[1] 0.8233191
> cor(USG,WG)
[1] 0.9641966

c) i think coefficient of correlation is more valuable

because the magnitude of the correlation coefficient indicats the strength of association.

d) from a)and b) we conclude that the variable first weekend(FW),U.S.gross(USG) and worldwide gross(WG) are dependent on each other.

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