Spearman's Rank Correlation Is Named for a British Behavioral Psychologist

question 27

True/False

Spearman's rank correlation is named for a British behavioral psychologist who was studying human intelligence.

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Definitions:

Alban William Phillips

Alban William Phillips was a New Zealand economist best known for the Phillips Curve, which suggests a historical inverse relationship between rates of unemployment and corresponding rates of inflation.

Phillips Curve

An economic theory suggesting an inverse relationship between rates of unemployment and corresponding rates of inflation, indicating trade-offs between these two economic variables.

Rate of Unemployment

The segment of the labor force that is without a job and actively on the look out for employment opportunities.

Passive Approach

A strategy, particularly in investing or management, where minimal intervention or action is taken, often to maintain the current state or to avoid risk.