Some people believe that the stock market shows patterns according
Some people believe that the stock market shows patterns according to the day of the week or the month of the year (“Sell in May and walk away”). We have the closing price of the Dow Jones Industrial Average for every day from January 2009 through February 2013. Here is the ANOVA:
Analysis of Variance for DJIA
a) Is this an experiment or an observational study?
b) State the hypotheses.
c) What do you conclude about the average value of the DJIA on different days of the week? Explain.
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