Conduct a Sign Test on the Following Sample Data to See

question 55

Multiple Choice

Conduct a sign test on the following sample data to see if the median differs from 122. ​ ​
Choose the correct p-value and conclusion.(Use α = 0.10) .

• A) p = 0.0592; there is sufficient statistical evidence to reject the null hypothesis and state that the median appears to be different than 122.
• B) p = 0.3018; there is insufficient evidence to state that the median differs from 122.
• C) p = 0.1509; there is sufficient statistical evidence to reject the null hypothesis and state that the median appears to be different than 122.
• D) p = 0.8491; there is insufficient evidence to reject the null hypothesis and state that the median differs from 122.

---

Definitions:

Economic Profits

The difference between a firm's total revenue and its total costs, including both explicit and implicit costs.

Industry Supply Curve

A graphical representation showing the total quantity of a good that producers within an industry are willing and able to supply at different price levels.

Enter

To participate or become involved in a particular activity or sphere; in business, it may refer to entering a market, indicating the beginning of efforts to compete within a given market area.

Efficient Markets

Markets in which all relevant information is fully and immediately reflected in asset prices, ensuring that securities are always fairly priced.