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

question 59

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 $\mathrm { r } _ { \mathrm { S } }$ for 15 pairs of data is -0.359, test the claim of correlation between
the two variables. Use a significance level of 0.01.

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Definitions:

Prisoner's Dilemma

Prisoner's Dilemma is a concept in game theory where two individuals acting in their own self-interest pursue a course of action that does not result in the ideal outcome for either of them.

Cooperate

The act of working together towards a common goal or interest, often seen in contexts where individuals or entities join forces for mutual benefit.

Nash Equilibrium

is a concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged.

Cartels

Groups of independent market participants who collude with one another to manipulate the price of a good or service in the market.