Seven methods of imparting business education were ranked by the MBA students oftwo Universities as follows:Method of teachingIIIIIIVIVVIRanks by students of 'Univ. A'2.1.53476Ranks by students of 'Univ. B'132.4Calculate rank correlation coefficient and comment on its values.

Answered: Image /qna-images/answer/4c027ef2-506e-430f-9aa8-a0df8a604886.jpg

Answered: Seven methods of imparting business…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

The Coefficient or rank correlation of the marks obtained by 10 students in two particular subjects was found to be 0.5. It was later discovered that the difference in ranks in two subjects obtained by one of the students was wrongly taken as 3 instead of 7. What should be the correct value of coefficient of rank correlation,
How does the AQL relate to producer’s risk () and theLTPD relate to consumer’s risk ()?
If the number of pairs n = 5, coefficient of rank correlation R = - 0.5 then D will be ?
One professor who teaches statistics gave students one homework assignment. He asked students to find a two-variable data set and compute the Pearson correlation coefficient. One student found a data set: one variable is students' midterm test score in an introductory microeconomics class and total observations are 45 students; while the other one variable is also students' midterm test score in another introductory microeconomics class and total observations are 57 students. Both of these two classes were taught by the same instructor in spring 2018. Does this student's data set make sense? Why or why not? Discuss and explain your reasons. You must provide your statistical analysis and reasons.
discuss the importance in business decision making-making within an organisation of identifying potential correlations between two different business variable
An Economics instructor assigns a class to investigate factors associated with the gross domestic product (GDP) of nations. Each student examines a different factor (such as life expectancy, literacy rate, etc.) for a few countries and reports to the class. Apparently, some of the classmates do not understand Statistics very well because several of their conclusions are incorrect. Explain the mistakes in comments a and b below. a) Explain the mistake in the statement "There was a very strong correlation of 1.22 between Life Expectancy and GDP" Choose the correct answer below O A. A correlation cannot be greater than 1. O B. A correlation that is greater than 1 implies that the variables are not quantitative, so the correlation cannot be interpreted. OC. A correlation that is close to 1 implies a very weak correlation. The correlation must be close to 10 for it to be interpreted as a very strong correlation. O D. A correlation that is greater than 1 implies a weak correlation, not a…
Beachcomer Ltd is a local car dealership that sells used and new vehicles. The manager of the company wants to know how different variables affect the sales of his vehicles. A random sample of yearly data was taken with the view to testing the model. SALES = a+BAGE + yMIL + SENG Where SALES = amount that a vehicle is sold for (000's), AGE = age of vehicle, MIL= the total mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was processed using MINITAB and the following is an extract of the output obtained: The regression equation is *****   Coef StDev t-ratio p-value Predictor Constant 1.7586 0.2525 6.9648 0.0000 AGE   0.2124 0.3175 * 0.5042 MIL -0.7527 0.3586 -2.0991 ** ENG 4.8124 0.6196 7.7664 0.0000…
Select five pairs of variables from the table. For each pair, report the following items: Name of the variables Correlation coefficient of the variables Significance of the correlation coefficient Interpret the sign of the correlation coefficient Interpret the magnitude of the correlation coefficient Table 4: Correlations of Variables                   1       2         3          4         5          6         7          8          9         10 Program       1 Effect.         (127) Score Number       .171* 1 of staff         (125) (130) Public         .338* .518*' 1 revenu         (119)   (123)   (124) Private         .311* .220*   .431*' 1 revenue   (120)   (124)    (122)   (125) Comp.         .451* .451*' .610*' .519*' Services      (125) (128)   (123)   (125) Number       .221* .947*' .504*'   .242*' .457*' 1 of               (125) (130)   (123)    (124)   (128)   (130) positions Board          -.267 .026     -.044    -.095   -.186* .140…
Beachcomer Ltd is a local car dealership that sells used and new vehicles. The manager of the company wants to know how different variables affect the sales of his vehicles. A random sample of yearly data was taken with the view to testing the model. SALES = a+BAGE + yMIL + SENG Where SALES = amount that a vehicle is sold for (000's), AGE = age of vehicle, MIL= the total mileage of the vehicle at the point of sale and ENG = the size of the engine. The sample of data was processed using MINITAB and the following is an extract of the output obtained: The regression equation is *****   Coef StDev t-ratio p-value Predictor Constant 1.7586 0.2525 6.9648 0.0000 AGE   0.2124 0.3175 * 0.5042 MIL -0.7527 0.3586 -2.0991 ** ENG 4.8124 0.6196 7.7664 0.0000…
For 9 observations on supply (X) and price (Y) the following data are obtained∑(X-90) = -25 , ∑(X-90)2 = 301, ∑(Y-127) = 12, ∑(Y-127)2 = 1006∑(X-90) ∑(Y-127) = -469. Compute correlation coefficient?
Natural selection predicts that two species that came from a common ancestor should have a high degree of correlation in their genomes. What aspect (use) of correlations am I using when apply it for this purpose?
Q3. An aluminum company summarized their gross sales in national, regional and international. From the data below, compute and graph the correlation coefficient r_from MS Excel. National 90.29 88.36 93.69 102.34 77.11 77.84 Gross Sales (in $millions) Regional 317.56 261.99 249.54 290.01 292.05 301.46 International 976.46 878.99 795.54 896.03 938.47 934.60

SEE MORE QUESTIONS

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS

Seven methods of imparting business education were ranked by the MBA students of two Universities as follows: Method of teaching I II III IV V IV VI Ranks by students of 'Univ. A' 2. 1 5 3 4 7 6 Ranks by students of 'Univ. B' 3 2 4 5 Calculate rank correlation coefficient and comment on its values.