The grades (CGPA) of 5 college students and their average salaries in lakhs/year are given in the table below. Calculate the rank coefficient.
CGPA (G)Salary (S)6.547.058.06.57.589.57
0.7
Convert the CGPA and salary to corresponding ranks and calculate deviations.
GSD=G−SD25500440023−11312412−11∑=6
rk=1−6∑D2in3−n=1−6×6125−5=1−36120=0.7