Answer to Question #341342 in Statistics and Probability for Jojo

Question

2. A used car depot wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 9 cars sold at the depot during the last 3 months.

Age (Years) 2.5 4 5.5 7 6 10 8 4 3

Selling Price (P000) 400 300 250 190 280 120 170 320 350

Determine the coefficient of correlation using Spearman Rank Correlation and test the significance at 0.01.

a. State the hypotheses

b. What is the level of significance?

c. Determine the critical region. Df_______ tcritical value_______________

d. Complete the table and compute for the value of the 𝜌 and 𝑡− test.

Car X Y Rx Ry D 𝑫𝟐

1

2

e. Decision Rule

f. Conclusion

Answer 1

It's been a while since this question is posted here. Still, the answer hasn't been got. Consider converting this question to a fully qualified assignment, and we will try to assist. Please click the link below to proceed: Submit order