Describe the Wilcoxon Rank-Sum Test

question 35

Essay

Describe the Wilcoxon rank-sum test. What type of hypotheses is it used to test? What assumptions are made for this test? What is the underlying concept?

---

Definitions:

Understated

A term used when financial records show a figure to be less than the actual amount, indicating a discrepancy or error.

Asset Account

Accounts that represent the different types of resources owned by a business, which have economic value and can provide future benefits.

Liability Account

records and tracks obligations or debts that a company owes to others, such as loans, mortgages, accounts payable, and other financial liabilities.

Overstated

A term used when the value of an asset or income is recorded higher than it actually is, leading to inaccuracies in financial reporting.