Examlex
The Pearson and the Spearman correlations are both computed for the same set of data.If the Pearson correlation is r = +1.00, then what can you conclude about the Spearman correlation?
Household
An individual or group of people living together and making joint decisions regarding consumption and finances.
Circular-Flow Diagram
A visualization of the economy that shows how dollars flow through markets among households and firms, highlighting the interactions between product and resource markets.
Factor Market
A factor market is the marketplace where productive resources like labor, capital, and natural resources are bought and sold.
Product Market
A marketplace where finished goods and services are bought and sold.
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