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One theory concerning the S&P 500 Index is that if it increases during the first trading days of the year, it is likely to increase during the entire year. From 1950 through 2016, the S&P 500 Index had these early gains in 42 years (in 2011 there was virtually no change). In 37 of these 42 years, the S&P 500 Index increased for the entire year. Assuming that this indicator is a random event with no predictive value, you would expect that the indicator would be correct 50% of the time. What is the probability of the S&P 500 Index increasing in 37 or more years if he true probability of an increase in the S&P 500 Index is
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Basic Business Statistics, Student Value Edition
- Holt Mcdougal Larson Pre-algebra: Student Edition...AlgebraISBN:9780547587776Author:HOLT MCDOUGALPublisher:HOLT MCDOUGALCollege AlgebraAlgebraISBN:9781305115545Author:James Stewart, Lothar Redlin, Saleem WatsonPublisher:Cengage Learning