Suppose you collect the following information on salaries for two groups of college professors: professors in the
Question:
Suppose you collect the following information on salaries for two groups of college professors: professors in the sciences and professors in the humanities.
(a) Compute the ranks for each group.
(b) Do we lose information by converting numerical information into ranks?
(c) Are means and variances of ranks meaningful?
Transcribed Image Text:
Science professor $52,500 $68,270 $55,000 $48,900 $75,000 Humanities professors $29,200 $42,700 $51,000 $37,000 $41,000
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Related Book For
Statistics For Business And Financial Economics
ISBN: 9781461458975
3rd Edition
Authors: Cheng Few Lee , John C Lee , Alice C Lee
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