Instruction 19-3
a Perfume Manufacturer Is Trying to Choose Between $\begin{array}{cc}\text { Padkage } & \text { Scratch } \\\hline 52 & 37 \\68 & 43 \\43 & 53 \\48 & 39 \\56 & 47\end{array}$

question 10

Short Answer

Instruction 19-3
A perfume manufacturer is trying to choose between two magazine advertising layouts. An expensive layout would include a small package of the perfume. A cheaper layout would include a 'scratch-and-sniff' sample of the product. The manufacturer would use the more expensive layout only if there is evidence that it would lead to a higher approval rate. The manufacturer presents both layouts to five groups and determines the approval rating from each group on both layouts. The data are given below. Use this to test whether the median difference in approval rating is different from zero in favour of the more expensive layout with a level of significance of 0.05.
$\begin{array}{cc}\text { Padkage } & \text { Scratch } \\\hline 52 & 37 \\68 & 43 \\43 & 53 \\48 & 39 \\56 & 47\end{array}$

-Referring to Instruction 19-3,what are the lower and upper critical values of the test?

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Definitions:

Treasury Note

A marketable U.S. government debt security with a fixed interest rate and a maturity between one and 10 years.

Dow Jones

A reference to either the Dow Jones Industrial Average (DJIA), a stock market index of 30 prominent companies in the U.S., or the company Dow Jones & Company, known for its financial market indices and news.

Industrial Average

A stock market index that measures the performance of a sector of the economy, typically composed of leading companies in that sector.

Price-Weighted

Refers to a stock market index in which each company's stock influences the index in proportion to its price per share.