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:

Manufacturing Overhead

All the manufacturing costs except raw material and direct labor.

Manufacturing Overhead

All indirect costs associated with the production process, such as utilities, depreciation, and salaries for production supervisors.

Direct Labor

The wages of those persons whose efforts directly affect the quality or other characteristics of the products manufactured.

Raw Materials

Basic materials used in the manufacturing process to produce finished goods, not yet processed or used in production.