?Random Walk Down Wall Street? Does the Dow Jones Industrial Average (DJIA) fluctuate randomly from quarter to quarter? (A quarter refers to a quarter
Chapter 15, Problem 14(choose chapter or problem)
Random Walk Down Wall Street? Does the Dow Jones Industrial Average (DJIA) fluctuate randomly from quarter to quarter? (A quarter refers to a quarter of the year. For example, January–March is the first quarter.) A stock analyst selected 40 consecutive quarters and computed the percentage change in the DJIA. He indicated positive percentage changes with a P and negative percentage changes with an N. The following are the results. Conduct a runs test for randomness on the sequence of quarterly market fluctuations at the = 0.05 level of significance.
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