Use the Wilcoxon Signed-Ranks Test and the Sample Data Below

question 1

Essay

Use the Wilcoxon signed-ranks test and the sample data below. At the 0.05 significance level, test the claim that math and verbal scores are the same. $$\begin{array} { l l l l l l l l l l } \text { Mathematics} &347 & 440 & 327 & 456 & 427 & 349 & 377 & 398 & 425 \\\hline \text { Verbal } & 285 & 378 & 243 & 371 & 340 & 271 & 294 & 322 & 385\end{array}$$

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Definitions:

Cheapest Product

A product offered at the lowest possible price point, often as a strategy to attract cost-conscious consumers or gain market share.

Marketing Mix

The set of controllable tactical marketing tools—product, price, place, and promotion—that a company uses to produce a desired response from its target market.

Right Price

The optimal price point for a product or service that reflects its value to the customer while allowing a business to make a reasonable profit.

Price Elastic

Describes a situation where the demand for a product changes significantly in response to a change in the product's price.