Find the Critical Value $\mathbf { r } _ { \mathrm { S } }$

question 57

Essay

Find the critical value. Assume that the test is two-tailed and that n denotes the number of pairs of data.
-Given that the rank correlation coefficient, r $\mathbf { r } _ { \mathrm { S } }$ , for 20 pairs of data is 0.547, test the claim of correlation between
the two variables. Use a significance level of 0.05.

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Definitions:

Two-Income Families

Households in which both partners earn wages or salaries contributing to the family's total income.

Real Wages

The purchasing power of wages or income, taking into account the effect of inflation on buying capacity.

Real Average Hourly

Real Average Hourly refers to the measurement of average hourly earnings adjusted for inflation, providing a more accurate depiction of purchasing power over time.

Wages

Compensation received by employees for their labor, typically quantified as per hour, day, or unit of work completed.