The accompanying table shows for a random sample of 20
The accompanying table shows, for a random sample of 20 long-term-growth mutual funds, percentage return over a period of 12 months and total assets (in millions of dollars).
a. Calculate the Spearman rank correlation coefficient.
b. Carry out a nonparametric test of the null hypothesis of no association in the population against a two-sided alternative.
c. Discuss the advantages of a nonparametric test for these data.
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