When Only Ordinal-Level Data Are Available, Spearman's Rank Correlation Rather

question 1

True/False

When only ordinal-level data are available, Spearman's rank correlation rather than the Pearson product-moment correlation coefficient must be used to analyze the association between two variables.

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Definitions:

Company Formation

The legal process involved in starting a new corporation or business entity, including registration and obtaining necessary licenses and permits.

Limited Liability

The condition by which shareholders' responsibility for the company's debts and liabilities is limited to the amount they invested.

Ownership Transfer

The process of transferring the legal rights and titles of an asset or property from one entity or individual to another.

Less Regulation

A situation or condition where there are fewer government-imposed rules and restrictions on business activities or operations.