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Q2. Consider the closing prices of a security for 10 trading days: 8 9 Trading day Closing price 1 53 2 51 3 52.4 4

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Q2. Consider the closing prices of a security for 10 trading days: 8 9 Trading day Closing price 1 53 2 51 3 52.4 4 53.1 5 53.2 6 52.8 7 51 - 10 49.5 50.09 49.88 Using the correlation test and the Runs test comment on the weak form of EMH. Write down the statistical null and alternate hypothesis. Critical values and inferences. [6]

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