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Rank Correlation Coefficient
Also identified as the spearman rank correlation coefficient, its reasons is to establish whether there is any form of association among two variables where the variables arranged in a ranked form.
R = 1 - {(6∑d2)/(n(n2 -1))}
Whereas d = difference among the pairs of ranked values.
n = numbers of pairs of rankings.
Solve the inequation: |x|
Determine Rank Correlation Coefficient A group of 8 accountancy students are tested in Quantitative Techniques and Law II. Their rankings in the two tests were as:
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