If the Pattern of Currency Values Over Time Appears Random

question 54

True/False

If the pattern of currency values over time appears random, then technical forecasting is appropriate.

---

Definitions:

Friedman Test

A non-parametric statistical test used to compare three or more matched or paired groups across multiple test conditions or times, assessing differences in rankings.

Ordinal Data

A type of categorical data that has a meaningful order or ranking among the categories but not a measurable distance between them.

Significance Level

A threshold in hypothesis testing that determines the probability of rejecting the null hypothesis when it is actually true, typically denoted by alpha.

Kruskal-Wallis Test

A nonparametric method for testing whether samples originate from the same distribution, often used when comparing three or more groups.