A Trading Magazine Wants to Determine the Number of Hours

question 79

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. At the 1% significance level, the critical value is ________.

• A) 1.645
• B) 1.96
• C) 2.33
• D) 2.575

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Definitions:

Scientific Management

A theory of management that analyzes and synthesizes workflows, improving economic efficiency, especially labor productivity.

Frederick Taylor

Known as the father of scientific management, he proposed optimizing work by scientifically studying workflow processes.

Teamwork

Collaboration and cooperative effort by a group of people to achieve a common goal, often emphasized as a key factor in organizational success.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love/belonging, esteem, and self-actualization, which they seek in a pre-determined order.