Test the claim that the median is 0.

Perform a run test to see if the distribution of gains and losses is random.

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R= 8
n0 = 29
n1 = 32
n= 61
E(R ) = 31.426
Var(R ) = 14.922
StDev(R ) = 3.863
Z= -6.064
p-value = 6.623E-10
A p-value less than 0.05 (typically ≤ 0.05) is statistically significant. It indicates strong
evidence against the null hypothesis, as there is less than a 5% probability the null is correct
(and the results are random).