A Fund Manager Wants to Know If It Is Equally

Multiple Choice

A fund manager wants to know if it is equally likely that the Dow Jones Industrial Average will go up each day of the week. For each day of the week, the fund manager observes the following number of days when the Dow Jones Industrial Average goes up. For the goodness-of-fit test, the null and alternative hypotheses are ________.

A) H₀: p₁ = p₂ = p₃ = p₄ = 1/4, H_A: Not all population proportions are equal to 1/4
B) H₀: p₁ = p₂ = p₃ = p₄ = p₅ = 1/5, H_A: Not all population proportions are equal to 1/5
C) H₀: p₁ = p₂ = p₃ = p₄ = p₅ = 1/4, H_A: Not all population proportions are equal to 1/4
D) H₀: p₁ = p₂ = p₃ = p₄ = 1/5, H_A: Not all population proportions are equal to 1/5