Movie companies need to predict the gross receipts of an individual movie once the movie has debuted. The following results (stored in PotterMovies) are the first weekend gross, the U.S. gross, and the worldwide gross (in $millions ) of the eight Harry Potter movies that debuted from 2001 to 2011. a. 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 gross. b. At the 0.05 level of significance, is there a significant linear relationship between first weekend and U.S. gross, first weekend gross, and U.S. gross and worldwide gross?
Movie companies need to predict the gross receipts of an individual movie once the movie has debuted. The following results (stored in PotterMovies) are the first weekend gross, the U.S. gross, and the worldwide gross (in $millions ) of the eight Harry Potter movies that debuted from 2001 to 2011. a. 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 gross. b. At the 0.05 level of significance, is there a significant linear relationship between first weekend and U.S. gross, first weekend gross, and U.S. gross and worldwide gross?
Movie companies need to predict the gross receipts of an individual movie once the movie has debuted. The following results (stored in PotterMovies) are the first weekend gross, the U.S. gross, and the worldwide gross (in
$millions
) of the eight Harry Potter movies that debuted from 2001 to 2011.
a. 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 gross.
b. At the 0.05 level of significance, is there a significant linear relationship between first weekend and U.S. gross, first weekend gross, and U.S. gross and worldwide gross?
Definition Definition Statistical measure used to assess the strength and direction of relationships between two variables. Correlation coefficients range between -1 and 1. A coefficient value of 0 indicates that there is no relationship between the variables, whereas a -1 or 1 indicates that there is a perfect negative or positive correlation.
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