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QUESTION
Date 7/8/2016 7/15/2016 7/22/2016 7/29/2016 8/5/2016 8/12/2016 8/19/2016 8/26/2016 9/2/2016 9/9/2016 9/16/2016 9/23/2016 9/30/2016 10/7/2016
Situation:
Many people believe that there is a "Friday effect" in the stock market. They do not necessarily spell out exactly what they mean by this, but there is a sense that the stock prices tend to be lower on Fridays than on other days.
Action:
Because stock prices are readily available on the web, it should be easy to test this hypothesis empirically. (SEE ATTACHED FOR MY TWO COMPANY DATA FOR 52 WEEKS-I already did this all and I summarized the data needed. Just need help answering questions.
- Before collecting data and running test, however, you must decide exactly which hypotheses you want to test because there are several possibilities. Formulate at least two sets of null/alternative hypotheses.
- Decide on criteria to support or refute your hypothesis.
- Conduct the test at different significance levels and discuss your findings. Can you conclude that there is a statistically significant Friday effect in the stock market?
