Consumer product testing groups commonly supply ratings of all sorts of products to consumers in an effort to assist them in their purchase decisions. Different manufacturers’ products are usually tested for their performance and then given an overall rating. PC World ranked the top ten 17-inch computer monitors and also supplied the street price (dollars). The ranks of each are shown in the table that follows, with the highest-priced monitor given a rank of 1 and the lowest a rank of 10.
a. Compute the Spearman rank correlation coefficient for the overall rating and the street price of the 17-inch monitors.
b. Does a higher price yield a higher rating? Test the null hypothesis that there is no relationship between the overall ratings of the monitors and their street prices versus the alternative that there is a positive relationship between them. Use a = 0.05.

  • CreatedAugust 28, 2015
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