The Drama Department at a College Asked Professors and Students

question 90

Essay

The drama department at a college asked professors and students in the drama department to rank 8 actors according to their performance. The data are listed below. A 10 is the highest ranking and a 1 the lowest ranking. Test the claim of no correlation between the rankings. Use α = .05. $$\begin{array} { l c c c c c c c c } \hline \text { Actor } & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 \\\hline \text { Professors } & 2 & 3 & 6 & 10 & 8 & 1 & 5 & 4 \\\text { Students } & 4 & 3 & 1 & 4 & 5 & 7 & 9 & 6 \\\hline\end{array}$$

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Definitions:

Marginal Analysis

An examination of the benefits and costs of one additional unit of production or consumption.

Marginal Benefit

Refers to the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service.

Marginal Benefit

The additional satisfaction or utility gained by consuming one more unit of a good or service, important for decision-making in consumption and production.

Marginal Benefit

The extra pleasure or benefit gained by an individual from consuming one more unit of a product or service.