Based on the number of firms and the sum of squared differences, the value of t can be found to be 0.650.
First, find the correlation coefficient using the Spearman's rank correlation coefficient:
= 1 - ( (6 x Sum of squared differences) / (number of firms x (number of firms² - 1))
= 1 - ( (6 x 128) / (10 x (10² - 1))
= 0.224
The value of t is:
= (Correlation coefficient x √(n - 2)) / √(1 - Correlation coefficient ²)
= (0.224 x √(10 - 2)) / √(1 - 0.224²)
= 0.650
Find out more on the Spearman's rank correlation coefficient at https://brainly.com/question/14646555.
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