THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 168

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
An airline is considering changing the color scheme of its planes' interiors.A focus group of 220 people was asked which color scheme they preferred.Of those who expressed a preference,87 preferred the new color scheme,while 121 preferred the old.
-You are interested in determining whether there is an association between the age of an individual and the amount of their monthly long distance expenditures.You collect the following data from 12 individuals.What is the Spearman's rank correlation for this data?

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Definitions:

Reducing Inflation

Measures and policies implemented to decrease the rate at which the general level of prices for goods and services is rising.

Debt-to-Income Ratio

A financial measure that compares an individual's total debt to their total gross income, often used by lenders to assess borrowing risk.

Inflation Rate

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Real Growth Rate

The rate at which an economy's gross domestic product (GDP) grows after adjusting for inflation, indicating the actual growth of economic output.