Perform a Runs Test for Randomness $$\alpha$$ = 005 $$\begin{array} { l l l l l l l } B & B & B & R & B & R & B \\R & R & B & B & B & R & R\end{array}$$

question 34

Essay

Perform a runs test for randomness. Be sure to do the following: Identify the claim mathematically and state the null
and alternative hypotheses. Determine the critical value and find the test statistic. Decide whether to reject or fail to
reject the null hypothesis and interpret the decision in the context of the original claim.
-Two poker players are dealt cards in the sequence shown, where B represents a black card and R represents a
red card. Can you conclude that the dealing of cards was not random? Use $$\alpha$$ = 0.05. $$\begin{array} { l l l l l l l } B & B & B & R & B & R & B \\R & R & B & B & B & R & R\end{array}$$

Understand the role and importance of job descriptions in performance evaluation.

Comprehend the concept of probationary periods and their implications for employment status.

Recognize the significance of setting and evaluating performance based on objectives.

Understand the importance of adherence to company policies and the implications of disciplinary actions.

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Definitions:

Demand Deposits

Bank accounts that allow the account holder to withdraw funds without prior notice, such as checking accounts.

Deposit Expansion Multiplier

The ratio that quantifies the potential increase in total bank deposits that can result from an initial deposit, through the process of banks lending and creating more deposits.

Reserve Ratio

The fraction of deposits that banks are required to keep on hand and not lend out, as mandated by banking regulations.

Open Market Operations

The buying and selling of government securities in the open market by a central bank to control the supply of money.