Sep 25, 2017 term paper 2

A COMMON MEASURE OF ASSOCIATION FOR RANDOM VARIABLES X AND Y IS THE RANK CORRELATION, OR…

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A common measure of association for random variables X and Y is the rank correlation, or Spearman`s correlation. The X values are ranked, and the observations are replaced by their ranks; similarly the Y observations are replaced by their ranks. For example, for a sample of size 5 the observations

are replaced by

Let r(Xt) denote the rank of XI and r( Yt) the rank of Yt. Using these paired ranks, the ordinary sample correlation is computed:

(b) Compute the ordinary correlation and Spearman`s correlation for the above data.


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