Each year Bloomberg Businessweek publishes statistics on the world's 1,000 largest companies. A company's price/earnings (P/E) ratio is the company's current stock price divided by the latest 12 months' earnings per share. The following table shows the P/E ratios for a sample of 10 Japanese companies and 12 U.S. companies.

Japan
Company	P/E Ratio
Sumitomo Corp.	153
Kinden	21
Heiwa	18
NCR Japan	125
Suzuki Motor	31
Fuji Bank	213
Sumintomo Chemical	64
Seibu Railway	666
Shiseido	33
Toho Gas	68

United States
Company	P/E Ratio
Gannett	19
Motorola	24
Schlumberger	24
Oracle Systems	43
Gap	22
Winn-Dixie	14
Ingersoll-Rand	21
American Electric	14
Hercules	21
Times Mirror	38
Wellpoint Health	15
Northern States Power	14

Is the difference between the P/E ratios for the two countries significant? Use the MWW test and = 0.01 to support your conclusion.State the null and alternative hypotheses.H₀: The two populations of P/E ratios are not identical. H_a: The two populations of P/E ratios are identical.H₀: Median for Japanese companies Median for U.S. companies 0 H_a: Median for Japanese companies Median for U.S. companies > 0 H₀: Median for Japanese companies Median for U.S. companies > 0 H_a: Median for Japanese companies Median for U.S. companies = 0H₀: Median for Japanese companies Median for U.S. companies 0 H_a: Median for Japanese companies Median for U.S. companies < 0H₀: The two populations of P/E ratios are identical. H_a: The two populations of P/E ratios are not identical.Find the value of the test statistic.W = Find the p-value. (Round your answer to four decimal places.)p-value = State your conclusion.Reject H₀. There is sufficient evidence to conclude that there is a significant difference between the P/E ratios for the two countries.Reject H₀. There is not sufficient evidence to conclude that there is a significant difference between the P/E ratios for the two countries. Do not reject H₀. There is sufficient evidence to conclude that there is a significant difference between the P/E ratios for the two countries.Do not reject H₀. There is not sufficient evidence to conclude that there is a significant difference between the P/E ratios for the two countries.