An Application of the Chi-Squared Goodness-of-Fit Test to Discrete Common Stock Returns
卡方拟合优度检验在离散普通股收益中的应用
This article presents the “centered” method for establishing cell boundaries in the X 2 goodness-of-fit test, which when applied to common stock returns significantly reduces the high bias of the test statistic associated with the traditional Mann–Wald equiprobable approach. A modified null hypothesis is proposed to incorporate explicitly the usually implicit assumption that the observed discrete returns are “approximated” by the hypothesized continuous density. Simulation…