2) Movies.xlsx has gross revenues, length, viewer rating on a 10 point scale, bu

Question

2) Movies.xlsx has gross revenues, length, viewer rating on a 10 point scale, budget, year and Movie Picture Association of America (MPAA) rating for 35 movies. We want to predict gross revenues. The MPAA rating is text with three categories (R, PG-13 and PG, there are no G or NC-17 movies in this sample) so two indicator variables have been created to represent these data

a) Before doing any calculations, which one variable do you think will be the best predictor of gross revenues? Explain your reasoning.

b) Use the correlation tool in the data analysis toolpac to calculate the correlations between each pair of variables. Based on these values, which one variable do you think will be the best predictor of gross revenues? Explain your reasoning

Title Rating Gross ($M) Length (minutes) Viewer Rating Budget ($M) Year Rate-R Rate-PG13 Aliens R 81.843 137 8.2 18.5 1986 1 0 Armageddon PG-13 194.125 144 6.7 140 1998 0 1 As Good As It Gets PG-13 147.54 138 8.1 50 1997 0 1 Braveheart R 75.6 177 8.3 72 1995 1 0 Chasing Amy R 12.006 105 7.9 0.25 1997 1 0 Contact PG 100.853 153 8.3 90 1997 0 0 Dante's Peak PG-13 67.155 112 6.7 104 1997 0 1 Deep Impact PG-13 140.424 120 6.4 75 1998 0 1 Executive Decision R 68.75 129 7.3 55 1996 1 0 Forrest Gump PG-13 329.691 142 7.7 55 1994 0 1 Ghost PG-13 217.631 128 7.1 22 1990 0 1 Good Will Hunting R 138.339 126 8.5 10 1997 1 0 Grease PG 181.28 110 7.3 6 1978 0 0 Halloween R 47 93 7.7 0.325 1978 1 0 Hard Rain R 19.819 95 5.2 70 1998 1 0 I Know What You Did Last Summer R 72.219 100 6.5 17 1997 1 0 Independence Day PG-13 306.124 142 6.6 75 1996 0 1 Indiana Jones and the Last Crusade PG-13 197.171 127 7.8 39 1989 0 1 Jaws PG 260 124 7.8 12 1975 0 0 Men in Black PG-13 250.147 98 7.4 90 1997 0 1 Multiplicity PG-13 20.1 117 6.8 45 1996 0 1 Pulp Fiction R 107.93 154 8.3 8 1994 1 0 Raiders of the Lost Ark PG 242.374 115 8.3 20 1981 0 0 Saving Private ryan R 178.091 170 9.1 70 1998 1 0 Schindler's List R 96.067 197 8.6 25 1993 1 0 Scream R 103.001 111 7.7 15 1996 1 0 Speed 2:Cruise Control PG-13 48.068 121 4.3 110 1997 0 1 Terminator R 36.9 108 7.7 6.4 1984 1 0 The American President PG-13 65 114 7.6 62 1995 0 1 The Fifth Element PG-13 63.54 126 7.8 90 1997 0 1 The Game R 48.265 128 7.6 50 1997 1 0 The Man in the Iron Mask PG-13 56.876 132 6.5 35 1998 0 1 Titanic PG-13 600.743 195 8.4 200 1997 0 1 True Lies R 146.261 144 7.2 100 1994 1 0 Volcano PG-13 47.474 102 5.8 90 1997 0 1 Source:http://people.sc.fsu.edu/~jburkardt/datasets/triola/triola.html Dollar values are uninflated

Explanation / Answer

Ans: To answer this question is difficult for the person who does not have much idea in this field. But to my knowledge, I think that budget of the film should be the best predictor of gross revenues. Because, to hire best actors, actress, director, other involving persons in the film, script, chose the suitable location etc. is depend on the budget of the film. For example, Avatar budget is $237 million and Box Office $2.788 billion. But some film also produced in low budget and get high revenue ( Saw (2004) Budget=$1.2miilion and Box Office=$103.9 million)

Ans:

Correlation is estimated between the continuous random variables. So, length of the film, viewer rating and budget of the film can estimate the correlation with gross revenues. The correlations are given below.

Correlations: Gross ($M), Length (minutes), Viewer Rating, Budget ($M)

                                 Gross ($M)         

Length (minutes)             0.440

Viewer Rating                0.276   

Budget ($M)                  0.426   

Cell Contents: Pearson correlation

Based on the correlation values the length of the film will be the best predictor of gross revenues.

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