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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.
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IN THIS WE HAVE TO ADD THE PROBABILITY of 3 and 5 occuring separtely and subtract prob. of 3 and 5 occuring together therefore p=(166+100-33)/500=233/500=0.466
how to find out percentage error?
1+8
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