A Fund Manager Wants to Know If It Is Equally

question 82

Multiple Choice

A fund manager wants to know if it is 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. At the 5% significance level,the critical value is _______.

• A) 7.779
• B) 9.488
• C) 11.143
• D) 13.277

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Definitions:

Definiteness Standards

Legal criteria used to evaluate the clarity and specificity of contract terms, ensuring that all essential terms are clear enough to enforce the agreement.

Classical Contract Law

This term describes a legal framework that emphasizes freedom of contract, where contracts are agreements entered into voluntarily by the parties and are enforceable by law.

Binding Contract

An agreement between parties that is legally enforceable and has all the essential elements of a contract.

Offeror

The party in a contract proposition who makes the offer to enter into an agreement, proposing terms to another party, the offeree.