(c) Without performing any further calculations, interpret the results obtained in parts (a) and (b). 2.(i) An analysis of a number of companies showed the following relationship between expenditure on research & development and profits: Research & Development Company ($millions) Profits ($ millions) 35 68 46 303 15 70 80 290 35 108 61 140 52 90 (a) Calculate the product moment correlation coefficient. (b) Rank the data and calculate the Spearman's rank correlation coefficient. (c) Comment on the difference between the answers obtained in parts (a) and (b). (ii) A bank has recently been analyzing its current account charges on quarterly average balance of its customers. The following data have collected from a random sample of its 7 current accounts: Account 5 6 number Average 83 26 54 104 43 65 38 balance ($) Account 5.42 14.27 7.83 2.62 8.64 4.20 10.01 charges($) Calculate the product moment correlation coefficient and coefficient of determination. Interpret your findings