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 critical value approach and α = 0.01, the appropriate conclusion is ________. A) to reject the null hypothesis; we cannot conclude the median number of hours worked per week differs from 100 B) do not reject the null hypothesis; we can conclude the median number of hours worked per week differs from 100 C) do not reject the null hypothesis; we cannot conclude the median number of hours worked per week differs from 100 D) to reject the null hypothesis; we can conclude the median number of hours worked per week differs from 100

Question

Quizplus · Accepted Answer

The critical value for a one-tailed test with α = 0.01 and n = 18 is 154. Since T = 153 is less than the critical value, we fail to reject the null hypothesis and conclude that the median number of hours worked per week does not differ from 100.

A Trading Magazine Wants to Determine the Number of Hours