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The Wilcoxon Signed Rank Test

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Explain Wilcoxon signed rank test, its application and how you would set up equations in this test?

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Solution Summary

This solution explains the Wilcoxon signed rank test.

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The Wilcoxon Signed Rank Test is the non-parametric analogue of matched pairs or dependent samples t-test.

Applications (examples of business problems):
It has many applications. For instance "before and after" experiments. Another application might be the comparison of performance of two brands of a product. Note that these two applications could be also addressed with the Sign Test.

Specific Examples:
Consumer preferences for two competing products are often compared by having each ...

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