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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Retrn Assets Return Assets Return Assets 29.3 27.6 300 16.0 70 15.5 23.7 3,004 15.2 15.0 827 14.4 295 14.0 29 13.7 421 12.9 11.3 9.9 610 756 161 71 719 143 19.6 17.6