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?
Definitions:
Tax Rates
The percentage at which an individual or corporation is taxed.
Interest Rates
The price paid for the use of borrowed money or the earnings from an investment, represented as a percentage of the total amount invested or borrowed.
Consumer Durable
A category of consumer goods characterized by their long life span, such as appliances, vehicles, and furniture.
Business Investment
Expenditure made by businesses to purchase capital goods or services, aimed at furthering company growth and generating revenue.
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