A Trading Magazine Wants to Know If a Seminar on Self-Confidence

question 11

Essay

A trading magazine wants to know if a seminar on self-confidence helps stockbrokers to obtain new clients. Before and after the self-confidence seminar, 14 stockbrokers rated their self-confidence as low, neutral, or high. In comparing the before and after rankings, there was one plus sign and 13 negative signs for the sign test.
A) Specify the competing hypotheses to determine if there are differences in self-confidence before and after the seminar.
B) Assuming the proportion of plus signs follows a normal distribution, what is the value of the test statistic?
C) At the 1% significance level, what is the decision and conclusion?

• A) Specify the competing hypotheses to determine if there are differences in self-confidence before and after the seminar.
• B) Assuming the proportion of plus signs follows a normal distribution, what is the value of the test statistic?
• C) At the 1% significance level, what is the decision and conclusion?

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Definitions:

Training

The process of teaching or learning a skill or behaviors, often to improve performance in a specific field or activity.

Creative Problem Solvers

Individuals who employ novel and resourceful methods to find solutions to complex problems.

Realistic Goals

Objectives that are attainable and practical, taking into account current resources and constraints.

Set

A collection of distinct objects, considered as a whole, often grouped together because they share common characteristics.