14.43 The accompanying table shows, for a random sample of 20 long-term-growth mutual funds, percentage return over a period of 12 months and total assets (in millions of pounds).

Return Assets Return Assets Return Assets 26.4 300 17.5 421 11.5 75 23.4 70 16.7 99 14.9 610 28.7 3004 18.8 756 8.4 264 24.5 161 17.9 730 6.2 27 25.5 827 12.7 436 9.3 71 19.9 295 12.3 143 3.7 719 17.3 29 14.3 117

a. Calculate the Spearman rank correlation coefficient.

b. Carry out a nonparametric test of the null hypothesis of no association in the population against a two-sided alternative.

c. Discuss the advantages of a nonparametric test for these data.