An International Economist Believes That There Is a Significant Relationship

Essay

An international economist believes that there is a significant relationship between the amount of debt and the rate of unemployment.The economist randomly selected six countries to determine if there is a significant relationship between debt and unemployment rate.In the following table,debt figures for the 6 countries are given in billions of dollars and the corresponding unemployment rate is given in percentages.The economist also discovered that both the distribution of debt and the distribution of unemployment rate were highly skewed.Use Spearman's rank correlation and determine if there is a significant correlation between debt and unemployment rate.