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. At the 1% significance level, the critical value is ________. A) 1.645 B) 1.96 C) 2.33 D) 2.575

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Quizplus · Accepted Answer

The Wilcoxon signed-rank test is a non-parametric test used to compare the median of a single sample to a known value or the median of another sample. The critical values for this test are not represented by z-scores (like 1.645, 1.96, or 2.33), but rather by specific values based on the sample size and the desired significance level, often found in statistical tables. However, since the question seems to be asking for a critical value at a 1% significance level but provides options that are z-scores (which are not directly applicable to the Wilcoxon signed-rank test), and without the correct critical value for the Wilcoxon test provided in the options, there seems to be a misunderstanding in the question setup. Given the options, 2.575 is the closest to representing a critical value at the 1% significance level for z-tests, not for the Wilcoxon signed-rank test, but it's important to note that this explanation is provided under the assumption that the question's format has a mismatch with the intended statistical test.

A Trading Magazine Wants to Determine the Number of Hours