A hypothesis test that rank correlation in the population is zero is conducted at the 5% level of significance. If the rank correlation coefficient is 0.75 for a sample of 15 observations, what is the computed value of the t-statistic? Multiple Choice 4.088 2.236 2.082 4.391

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**Hypothesis Test on Rank Correlation**

**Problem Statement:**
A hypothesis test that rank correlation in the population is zero is conducted at the 5% level of significance. If the rank correlation coefficient is 0.75 for a sample of 15 observations, what is the computed value of the t-statistic?

**Multiple Choice Options:**
- 4.088
- 2.236
- 2.082
- 4.391

To solve this problem, you would typically use the formula for the t-statistic in the context of Spearman’s rank correlation:

\[ t = \frac{r \sqrt{n - 2}}{\sqrt{1 - r^2}} \]

Where:
- \( r \) is the rank correlation coefficient.
- \( n \) is the number of observations.
Transcribed Image Text:**Hypothesis Test on Rank Correlation** **Problem Statement:** A hypothesis test that rank correlation in the population is zero is conducted at the 5% level of significance. If the rank correlation coefficient is 0.75 for a sample of 15 observations, what is the computed value of the t-statistic? **Multiple Choice Options:** - 4.088 - 2.236 - 2.082 - 4.391 To solve this problem, you would typically use the formula for the t-statistic in the context of Spearman’s rank correlation: \[ t = \frac{r \sqrt{n - 2}}{\sqrt{1 - r^2}} \] Where: - \( r \) is the rank correlation coefficient. - \( n \) is the number of observations.
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