- 10 Marks
QTB – May 2017 – L1 – SB – Q5b – Statistics
Calculate the Spearman's rank correlation coefficient between two accountants' rankings of ten banks.
Question
Two Chartered Accountants: X and Y, were requested to rank ten banks A, B, C, D, E, F, G, H, I, J according to their performances during a financial year. X ranked the banks as follows:
- X’s Rankings: E, B, G, A, C, D, H, F, J, I
- Y’s Rankings: E, C, A, B, G, H, J, D, F, I
Calculate the Spearman’s rank correlation coefficient between X and Y and interpret your result.
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