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) reject the null hypothesis;conclude the median number of hours worked per week differs from 100 B) 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 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

In the Wilcoxon signed-rank test, the null hypothesis is that the median of the population from which the sample is drawn is equal to a specific value, in this case, 100 hours. 
The alternative hypothesis is that the median is not equal to 100 hours. 
The p-value is the probability of observing a test statistic at least as extreme as the one computed from the sample, assuming the null hypothesis is true. 
Since the p-value is less than the significance level α = 0.01, we reject the null hypothesis. 
Therefore, we can conclude that the median number of hours worked per week differs from 100.

A Trading Magazine Wants to Determine the Number of Hours