The yearly data have been published showing the number of releases for each of the commercial movie studios and the gross receipts for those studios thus far. Based on these data, can it be concluded that there is a relationship between the number of releases and the gross receipts?

Perform the following steps.
a. Draw the scatter plot for the variables.
b. Compute the value of the correlation coefficient.
c. State the hypotheses.
d. Test the significance of the correlation coefficient at α = 0.05, using Table I.
e. Give a brief explanation of the type of relationship.

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No. of releases 361 270 306 22 35 10 8 12 21 Gross receipts y (million $) 3844 1962 1371 1064 334 241 188 154 125