The Square of Spearman's Rho Is the Proportional Reduction in Error

question 19

Multiple Choice

The square of Spearman's rho is the proportional reduction in error when predicting

• A)rank on one variable from rank on the other variable compared to predicting rank while ignoring the other variable.
• B)the rank of a case from its score.
• C)rank on gamma vs.rank on phi.
• D)score on X while ignoring Y.

---

Definitions:

Labor Income

The compensation received by individuals for their work efforts, often in the form of wages, salaries, or other earnings.

Lump Sum Payment

A large single payment made at a particular time, especially in the context of paying off a loan or settling a deal.

Leisure

Free time available to an individual after all work or economic activities have been completed, often used for rest, recreation, or other personal activities.

Utility Function

A mathematical representation of how consumer preferences over bundles of goods or services translate into levels of satisfaction or utility.