Q.4.156 - Elementary Statistics

Question

Movie Grosses. The data from Exercise 4.72 on domestic and overseas grosses for a random sample of $50$ movies are on the Weiss Stats site.

a. decide whether use of the linear correlation coefficient as a descriptive measure for the data is appropriate. If so, then also do parts (b) and (CK.

b. obtain the linear correlation coefficient.

c. interpret the value of $r$ in terms of the linear relationship between the two variables in question.

Step-by-Step Solution

Answer

a). As a descriptive metric of data, we choose to employ the linear correlation coefficient.

b). The linear correlation coefficient $=0.852$.

c). The positive linear correlation coefficient indicates that domestic and foreign gross receipts have a relatively favorable relationship.

Part (a) Step 1: Given Information

The Weiss Stats website offers information on domestic and international grosses for a random selection of $50$ films.

Part (a) Step 2: Explanation

Draw the scatter plot for domestic grosses and overseas grosses.

As observed in the scatter plot, the data points are distributed along a line.

As a consequence, as a data descriptive metric, we picked the linear correlation coefficient.

Part (b) Step 1: Given Information

The Weiss Stats website offers information on domestic and international grosses for a random selection of $50$ films.

Part (b) Step 2: Explanation

Any technique may be used to find the correlation coefficient.

We'll begin by inputting the brides and their scores, followed by the ultimate outcome.

Hence,

The linear correlation coefficient $=0.852$.

Part (c) Step 1: Given Information

Movie Grosses. The data from Exercise 4.72 on domestic and overseas grosses for a random sample of $50$ movies are on the Weiss Stats site.

Part (c) Step 2: Explanation

The linear correlation co-efficient $r=0.852$.

The positive linear correlation coefficient indicates that domestic and foreign gross receipts have a relatively favorable relationship.