A sample of 75 corporations buying back franchises was examined. Of these cases, returns on common stock

Question:

A sample of 75 corporations buying back franchises was examined. Of these cases, returns on around the buyback announcement date were positive 52 times, negative 15 times, and zero 8 times.
Test the null hypothesis that positive and negative returns are equally likely against the alternative that positive returns are more likely. Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...