Question: this is a probability homework ngSTIQN 1 (5 Marks) a) A company is to replace its eet of cars. Eight possible models are considered and

this is a probability homework

this is a probability homework ngSTIQN 1 (5 Marks) a) A company

ngSTIQN 1 (5 Marks) a) A company is to replace its eet of cars. Eight possible models are considered and the tranSport manager is asked to rank them, from 1 to 8. The current market price of the car is also recorded. Model TranSport manager's Price (RM) 49000 70000 56000 73000 52000 57300 68300 65000 i) Calculate the coefcient correlation, r using spearman rank correlation. (3marks) ii) Does the value of r suggest any relationship between the rank given by the transport manager and the market price value. (2 marks) MG MarkS) The following table lists the frequency distribution of cars sold at an auto dealership during the past 4 quarters of 2015. Using the 10% signicance level, will you reject the claim that the number of cars sold at this dealership is the same for each quarter? i) State the null and alternative hypotheses. marks] ii) Find the critical value. [1 mark] iii) Calculate the test statistic. [2 marks] iv) What does the reSult suggest about the claim that the number of cars sold at this dealership is the same for each quarter? [1 marks]

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