A trading magazine wants to determine the number of hours stockbrokers work each week. In particular, the trading magazine wants to determine if the median number of hours worked per week differs from 100 hours. The magazine samples 18 traders. For the Wilcoxon signed-rank test, the value of the test statistic is T = T⁺ = 153. Using the p-value approach and α = 0.01, the appropriate conclusion is ________. A) to reject the null hypothesis; we can conclude the median number of hours worked per week differs from 100 B) to reject the null hypothesis; we cannot conclude the median number of hours worked per week differs from 100 C) do not reject the null hypothesis; we can conclude the median number of hours worked per week differs from 100 D) do not reject the null hypothesis; we cannot conclude the median number of hours worked per week differs from 100

Question

Quizplus · Accepted Answer

The Wilcoxon signed-rank test is used to compare the median of a single sample to a known value (in this case, 100 hours). If the p-value is less than the significance level (α = 0.01), we reject the null hypothesis. The statement about the test statistic (T = 153) suggests that the result is significant enough to reject the null hypothesis, leading to the conclusion that the median number of hours worked per week differs from 100.

A Trading Magazine Wants to Determine the Number of Hours