Consider the Data Set Shown $\begin{array}{|rr|}\hline \underline{x} & \underline{y} \\7 & 5 \\7 & 8 \\9 & 7 \\11 & 9 \\12 & 8 \\16 & 11\\\hline\end{array}$

question 36

Essay

Consider the data set shown. Convert these values into ranks and conduct a Spearman's rank correlation analysis.
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$\begin{array}{|rr|}\hline \underline{x} & \underline{y} \\7 & 5 \\7 & 8 \\9 & 7 \\11 & 9 \\12 & 8 \\16 & 11\\\hline\end{array}$ (a) Calculate the Spearman's rank correlation coefficient and standard error.
(b) Calculate the t-value for the Spearman's rank correlation coefficient.
(c) Using your results from (a) and (b), make a statement about the significance of the association between the X and Y values.

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Definitions:

Indifference Curve

A graph showing different combinations of two goods that provide equal satisfaction and utility to a consumer.

Bundle

A collection of goods or services sold as a single package or unit.

Scones

A type of baked good originating from the United Kingdom, characterized by its round shape and slightly sweet flavor, often served with tea.

Hypostyle

An architectural element that features a hall or space with a roof supported by columns, often used in Ancient Egyptian and Islamic structures.