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. Day of the Week Observed Monday 192 Tuesday 189 Wednesday 202 Thursday 199 Friday 218
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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.
| Day of the Week | Observed |
| Monday | 192 |
| Tuesday | 189 |
| Wednesday | 202 |
| Thursday | 199 |
| Friday | 218 |
The p-value is ________________.
-
less than 0.01
-
between 0.01 and 0.05
-
between 0.05 and 0.10
-
greater than 0.10
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