Use the Runs Test to Determine Whether the Given Sequence

question 107

Essay

Use the runs test to determine whether the given sequence is random. Use a significance level_
of 0.05. Test the sequence of digits below for randomness above and below the value of 4.5. $\begin{array}{llllllllll}0 & 4 & 7 & 3 & 6 & 0 & 9 & 7 & 4 & 8 \\7 & 2 & 8 & 5 & 7 & 3 & 9 & 6 & 4 & 6 \\4 & 7 & 9 & 1 & 6 & 1 & 9 & 5 & 8 & 3 \\7 & 8 & 5 & 7 & 3 & 5 & 2 & 9 & 3 & 8\end{array}$

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Definitions:

Desirability

The quality of being wanted or wished for as being attractive, useful, or necessary.

Incentive Compensation Scheme

A strategy used by businesses to motivate and reward employees beyond regular pay to improve company performance.

Performance Evaluation

A process of assessing how effectively an individual, system, or organization meets its objectives.

Reward System

A structured program designed to recognize and reward desired behaviors or achievements, often used in organizational settings.