A fund manager wants to know if it equally likely that the Dow Jones Industrial

Question

A fund manager wants to know if it equally likely that the Dow Jones Industrial average will go up each day of the week. For each day of the week, the fund manager observes the following number of days when the Dow Jones Industrial average goes up. Refer to the Exhibit. For the goodness-of -fit test, the null and alternative hypotheses are: H0: P1 = P2 = P3 = P4 = 1/4 Ha: Not all proportions are equal to 1/4 H0: P1 = P2 = P3 = P4 = P5 = 1/5 Ha: Not all proportions are equal to 1/5 H0: P1 = P2 = P3 = P4 = P5 = 1/4 Ha: Not all proportions are equal to 1/4 H0: P1 = P2 = P3 = P4 = 1/5 Ha: Not all proportions are equal to 1/5

Explanation / Answer

H0: P1=P2=P3=P4=P5= 1/5

Ha:Not all proportions are equal to 1/5.

(Option 2)

(Since there are five days)

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