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True / False: Assume you estimated IBM s beta to be 1 . 3 in a regression using stock returns. The interpretation of this beta

True / False: Assume you estimated IBMs beta to be 1.3 in a regression using stock returns. The interpretation of this beta is that for every 1% change in the market returns, IBMs stock returns will move 1.3%, on average, in the same direction as the market.

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