Business Studies, asked by johncena9824171720, 1 month ago

What is it necessary to use rank correlation?​

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Answered by madeehamisbah64
0

Answer:

A rank correlation coefficient measures the degree of similarity between two rankings, and can be used to assess the significance of the relation between them. For example, two common nonparametric methods of significance that use rank correlation are the Mann–Whitney U test and the Wilcoxon signed-rank test.The Spearman's Rank Correlation Coefficient is used to discover the strength of a link between two sets of data. This example looks at the strength of the link between the price of a convenience item (a 50cl bottle of water) and distance from the Contemporary Art Museum in El Raval, Barcelona.

Answered by Anocecil
0

Answer:

Here's your answer mate :

A rank correlation coefficient measures the degree of similarity between two rankings, and can be used to assess the significance of the relation between them. For example, two common nonparametric methods of significance that use rank correlation are the Mann Whitney U test and the Wilcoxon signed-rank test.

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