Use the Sign Test to Test the Indicated Claim

question 13

Essay

Use the sign test to test the indicated claim. The waiting times (in minutes)of 28 randomly selected customers in a bank are given below. Use a significance level of 0.05 to test the claim that the population median is equal to 5.3 minutes. $\begin{array} { r r r r r r r } 8.2 & 8.0 & 10.5 & 3.8 & 6.4 & 5.3 & 7.8 \\2.9 & 6.0 & 7.7 & 6.1 & 5.9 & 1.2 & 10.4 \\7.3 & 6.9 & 5.8 & 5.1 & 6.2 & 3.1 & 5.8 \\11.7 & 4.5 & 6.5 & 9.8 & 7.4 & 2.3 & 7.8\end{array}$

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Definitions:

Return on Assets

A profitability ratio that measures how efficiently a company can generate profit from its assets.