Find the Critical Value Find the Rank Correlation Coefficient and Test the Claim of and That

question 95

Essay

Find the critical value. Assume that the test is two-tailed and that n denotes the number of pairs of data.
-Ten trucks were ranked according to their comfort levels and their prices. $$\begin{array} { c c c } \hline \text { Make } & \text { Comfort } & \text { Price } \\\hline \mathbf { A } & 1 & 6 \\\mathbf { B } & 6 & 2 \\\mathbf { C } & 2 & 3 \\\mathbf { D } & 8 & 1 \\\mathbf { E } & 4 & 4 \\\mathbf { F } & 7 & 8 \\\mathbf { G } & 9 & 10 \\\mathbf { H } & 1 \mathbf { 0 } & 9 \\\mathbf { I } & 3 & 5 \\\mathbf { J } & 5 & 7 \\\hline\end{array}$$ Find the rank correlation coefficient and test the claim of correlation between comfort and price. Use a
significance level of 0.05.

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Definitions:

Overhead Applied

The allocation of indirect costs to produced goods or services based on predetermined rates.

Work in Process Inventory

Refers to the unfinished goods in a manufacturing process that are not yet completed but are in the stage of being turned into finished products.

Cost of Goods Sold

The direct costs attributed to the production of the goods sold by a company, including materials and labor.

Raw Material Inventory

The total stock of basic materials awaiting processing into finished goods within a manufacturing or production facility.