The following table shows a portion of the annual returns (in percent) for two of Fidelity's mutual funds: the Fidelity Advisor's Electronic Fund and the Fidelity Advisor's Utilities Fund; the full data set is on the text website, labeled Electronics and Utilities.

Year Electronics Utilities 2001 47.41 − 15.28 2002 20.74 − 29.48

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2010 16.84 11.08 Source: h ttp ://fin a n c e .y a h o o .c o m .

a. Calculate and interpret the Spearman rank correlation coefficient rs.

b. Specify the com peting hypotheses to determ ine w hether the m utual fund returns are related.

c. At the 5% significance level, specify the critical value and the decision rule. Assume that the sampling distribution o f rs is approxim ately normal.

d. W hat is the conclusion to the test? Are the returns correlated?