A Trading Magazine Wants to Determine the Number of Hours

question 30

Multiple Choice

A trading magazine wants to determine the number of hours stockbrokers work each week. In particular, the trading magazine wants to determine if the median number of hours worked per week differs from 100 hours. The magazine samples 18 traders. For the Wilcoxon signed-rank test, the value of the test statistic is T = T⁺ = 153. Using the p-value approach and α = 0.01, the appropriate conclusion is ________.

• A) to reject the null hypothesis; we can conclude the median number of hours worked per week differs from 100
• B) to reject the null hypothesis; we cannot conclude the median number of hours worked per week differs from 100
• C) do not reject the null hypothesis; we can conclude the median number of hours worked per week differs from 100
• D) do not reject the null hypothesis; we cannot conclude the median number of hours worked per week differs from 100

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Definitions:

Gross Investment

The total amount of investment spent on new fixed investment plus replacement investment, without accounting for depreciation.

Net Investment

The total amount invested in buying new capital and replacing depreciated capital within a specific period.

Potential Output

The highest level of real GDP that can be sustained over the long term without increasing inflation, reflecting the maximum productive capacity of an economy.

Labor Force

The total number of people who are employed and unemployed but seeking work within an economy.