Question

Given the data in the table below;

Home values 85 147 340 94 120 105 135 162 480 88
Debt data 12 27 45 10 17 4 20 25 35 14

(i) Use the spearman rank correlation to determine the value of rs and state the relationship between the two variables.
(ii) Develop a test of hypothesis that uses the ranks correlation rs in i) above as the test statistics
iii) Determine whether the derived value of rs in i) above is large enough to support the conclusion made in i)

Answer 1

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