Consider the following sample of seven bad debt ratios:
7% 4% 6% 7% 5% 4% 9%
Use this sample and the following MINITAB output to test the null hypothesis that the median bad debt ratio equals 3.5 percent versus the alternative hypothesis that the median bad debt ratio exceeds 3.5 percent by setting α equal to .05.

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Sign test of median3.500 versus3.500 N Below Equal Above P Median 6.000 Ratio 7 7 0.0078