In an attempt to determine whether a relationship exists between the price of a home and the number of days it takes to sell the home, a real estate agent collected the following data from recent sales in his city (the data are also available on the text website, labeled Price/Days):
a. Calculate and interpret the Spearman rank correlation coefficient rs.
b. Specify the competing hypotheses in order to determine whether the price of a home and the number of days it takes to sell are related.
c. At the 5% significance level, specify the critical value and the decision rule.
d. Are these variables related? Explain.