Solution Found!
Listed below are the movies with the largest world box office sales and their world box
Chapter 0, Problem 61(choose chapter or problem)
Listed below are the movies with the largest world box office sales and their world box office budget (total amount available to spend making the picture).
Find the correlation between the world box office budget and world box office sales. Comment on the association between the two variables. Does it appear that the movies with large budgets result in large box office revenues?
Questions & Answers
QUESTION:
Listed below are the movies with the largest world box office sales and their world box office budget (total amount available to spend making the picture).
Find the correlation between the world box office budget and world box office sales. Comment on the association between the two variables. Does it appear that the movies with large budgets result in large box office revenues?
ANSWER:Step 1 of 4
Given:
n = Sample size = 50
Formula correlation coefficient:
\(r=\frac{\sum(X-\bar{X})(Y-\bar{Y})}{(n-1) s_{x} s_{y}}\)
The mean is the sum of all values divided by the number of values:
\(\begin{array}{l} \bar{x}=\frac{\sum_{i-1}^{n} x_{i}}{n}=\frac{2729.7+1835+\ldots+469.7}{50}=806.59 \\ \bar{y}=\frac{\sum_{i=1}^{n} y_{i}}{n}=\frac{237+489.3+\ldots+285.1}{50}=386.1996 \end{array}\)
Step 2 of 4
The variance is the sum of squared deviations from the mean divided by n - 1. The standard deviation is the square root of the variance:
\(\begin{array}{l} s_{x