Question: The table to the right classifies a stock's price change as up, down, or no change for both today's and yesterday's prices Price changes were

The table to the right classifies a stock's price change as up, down, or no change for both today's and yesterday's prices Price changes were examined for 104 days. A financial theory states that the price change of today for a stock must be independent of yesterday's price change. Test the hypothesis that daily stock price changes for this stock are independent. Leta=0.01. Price Price Change Previous Change Day Today Up No Change Down Up 12 17 8 No Change 9 8 10 Down 12 14 14 Determine the null and alternative hypotheses for the test. Choose the correct answer below OA. Ho Today's price change and yesterday's price change have non-equal proportions, HA Today's price change and yesterday's price change have equal proportions. OB, H, Today's price change and yesterday's price change are not independent HA Today's price change and yesterday's price change are independent. OC. Ho: Today's price change and yesterday's price change have equat proportions HA Today's price change and yesterday's price change have non-equal proportions OD. Ho Today's price change and yesterday's price change are independent. HA Today's price change and yesterday's price change are not independent Calculate the test statistic

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