The Runs Test Uses a Series of 0's and 1's

question 67

Multiple Choice

The runs test uses a series of 0's and 1's.The 0's and 1's represent whether each observation is:

• A) above or below the predicted value of Y
• B) above or below the mean value of Y
• C) is above or below the mean value of the previous two observations
• D) is positive or negative

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Definitions:

Amortization Expense

The systematic and gradual charge to expense of the cost of an intangible asset over its useful life.

Functional Currency

A redefined definition: The currency that a business uses for most of its transactions, reporting, and financial statements.

Capital Assets

Long-term tangible or intangible assets used in operations of a business that are not intended for sale in the regular course of business.

Exchange Rates

The rate at which one currency can be exchanged for another currency.