Rates of return on 24 mutual funds are shown. (a) Convert the data to ranks. Check the column sums ...

     16.12 Rates of return on 24 mutual funds are shown. (a) Convert   the data to ranks. Check the column   sums. (b)   Calculate Spearman’s rank correlation coefficient. Show your calculations.   (c) At   α = .01 can   you reject the hypothesis of zero rank correlation? (d) Check your work by   using   MegaStat.   (e) Calculate the Pearson correlation coefficient (using Excel). (f ) In this   case, why   might either   test be used?     Rates of   Return on 24 Selected Mutual Funds (percent)   Fund        12-Mo.        5-Year         Fund      12-Mo.      5-Year     1               11.2              10.5           13             8.0           7.3     2            −2.4                5.0            14            11.2         14.2     3              8.6                  8.6              15          14.0            9.7     4              3.4                  3.7            16             11.6          14.7     5              3.9              −2.9            17            13.2         11.8     6             10.3               9.6            18           −1.0          2.3       7             16.1            14.1             19              6.2         10.5       8            6.7               6.2               20             21.1         9.0     9              6.5               7.4               21           −1.2           3.0    10            11.1            14.0             22              8.7           7.1    11              9.7                10.2           23              0.9           6.0    12            0.4                   9.3              24           12.7           10.0