What are the Merits and Demerits of Rank Difference Co-efficient of Correlation?
Merits
- It is easy to calculate.
- It is simple to understand.
- It can be applied to any type of data. Qualitative or Quantitative. Hence correlation with qualitative data such as honesty, beauty can be found.
- This is most suitable in case there are two attributes.
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Demerits
- It is only an approximately calculate measure as actual values are not used for calculations.
- For large samples it is not convenient method.
- Combined r of different series cannot be obtained as in case of mean and S.D.
- It cannot be treated further algebraically.