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To test for the joint significance of the first m autocorrelations on a sample of portfolios, a Q-statistic can be applied. Which of the following statements correctly identifies the intuition behind this test? A. If the alternative hypothesis (of no autocorrelations) cannot be rejected, then each lagged autocorrelation will be close to 0, and the test statistic will be small. B. If the null hypothesis (of autocorrelations) cannot be rejected, then each lagged autocorrelation will be close to 1, and the test statistic will be small. C. If the alternative hypothesis (of no autocorrelations) cannot be rejected, then each lagged autocorrelation will be close to 1, and the test statistic will be small. D. If the null hypothesis (of no autocorrelations) cannot be rejected, then each lagged autocorrelation will be close to 0, and the test statistic will be small. |