EXAMPLE 13.3 Runs Test and Amazon Sales

amazon

CASE 13.1 Figure 13.7 shows Minitab’s runs test output applied to the Amazon sales series. Here, we see that there are only four observed runs versus the expected number of about 27. The reported -value of 0.000 shows that the evidence is very strong against the null hypothesis of randomness.

image
Figure 13.7: FIGURE 13.7 Minitab runs test output for the Amazon sales series.