A Rank Correlation Coefficient Is to Be Calculated for a Collection

question 79

Multiple Choice

A rank correlation coefficient is to be calculated for a collection of paired data. The values lie between -10 and 10. Which of the following could affect the value of the rank correlation coefficient? I: Multiplying every value of one variable by 3
II: Interchanging the two variables
III: Adding 2 to each value of one variable
IV: Replacing every value of one variable by its absolute value

• A) III
• B) IV
• C) I
• D) I and IV

Comprehend the factors affecting the enforceability of agreements not in writing.

Analyze the role and characteristics of formal contracts such as contracts under seal and letters of credit.

Explain the mirror-image rule and the mailbox rule in the context of agreement formation.

Appreciate cross-cultural perspectives on contracts, highlighting differences in contract views and preferences.

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Definitions:

Equilibrium

In economics, a state where market supply and demand balance each other, and as a result, prices become stable.

Coconuts

Tropical fruits or the hard-shelled seeds of the coconut palm, often used metaphorically in economics and game theory to represent tradable resources.

Civic Authorities

Government officials or bodies responsible for governing a city or town, and managing local services and regulations.

Long-run Supply Function

An economic concept that describes the total quantity of products that firms are willing to supply over a long period, taking into account the adjustments in production factors and technology.