Question
In: Statistics and Probability
Movie companies need to predict the gross receipts of individual movies once a movie has debuted....
- Movie companies need to predict the gross receipts of individual movies once a movie has debuted. The following results, stored in the table below, are the first week-end gross, the U.S. gross and the worldwide gross (in $ Million) of the eight Harry Potter movies:
|
Title |
First Weekend Gross ($ Mil) |
U.S. Gross ($ Mil) |
Worldwide Gross ($ Mil) |
|
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 |
292.013 |
938.469 |
|
Half- Blood Prince |
77.836 |
301.460 |
934.601 |
|
Deathly Hallows Part I |
125.017 |
295.001 |
955.417 |
|
Deathly Hallows Part I |
169.189 |
381.011 |
1328.111 |
- Construct a scatter plot with first weekend gross on the X axis and US gross on the Y axis.
- Construct a scatter plot with first weekend gross on the X axis and worldwide gross on the Y axis.
- What can you say about the relationship between first weekend gross and US gross and first weekend gross with worldwide gross?
Solutions
Expert Solution
i am using minitab to solve the problem.
a).steps for getting scatterplot:-
copy the data in two column of minitab worksheet named
contaminant level and weight 
'graph'
'scatterplot' 
'simple'
'ok'
in 'y
variables' select US gross and in 'x
variables' select first weekend gross 
'ok'.
b).steps for getting scatterplot:-
copy the data in two column of minitab worksheet named
contaminant level and weight 
'graph'
'scatterplot' 
'simple'
'ok'
in 'y
variables' worldwide gross select and in 'x variables'
select first weekend gross 
'ok'.
c).steps for calculating correlation coefficient:-
stat 
'basic
statistics'
'correlation' select the
two in variables choose
Pearson correlation'
ok.
following this i have found,correlation coefficient between first weekend gross and US gross = 0.728
correlation between first weekend gross and worldwide gross = 0.823
so,from scatterplot and correlation we can conclude there is positive relationship between first weekend gross and US gross and between first weekend gross and worldwide gross . the first weekend gross and worldwide gross are more correlated than the first weekend gross and US gross.
*** if you have any doubt regarding the problem please write it in the comment section.if you are satisfied please give me a LIKE if possible...
orchestra answered 1 year agoRelated Solutions
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Gross
Revenue
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Advertising
($1,000s)
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5
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(a)
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The owner of a movie theater company would like to predict weekly gross revenue as a...
The owner of a movie theater company would like to predict
weekly gross revenue as a function of advertising expenditures.
Historical data for a sample of eight weeks follow.
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Gross
Revenue
($1,000s)
Television
Advertising
($1,000s)
Newspaper
Advertising
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5
1.5
90
2
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95
4
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Weekly Gross Revenue ($1000s)
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Newspaper Advertising ($1000s)
97
5
1.5
90
2
3
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4
2.5
93
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96
3
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94
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5.0
1.5
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5.0
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