FILE In an attem pt to determine whether a relationship exists between the price of a home and the number o f days it takes to sell the home, a real estate agent collected the follow ing data from recent sales in his city (the data are also available on the text website, labeled Price/Days):

Price (in $1,000s) Days to Sell Home 265 136 225 125 160 120 325 140 430 145 515 121 180 122 423 145

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.