466 PART TWO: RELAXING THE ASSUMPTIONS OF THE CLASSICAL MODEL Now let
N = total number of observations = N1 + N2 N1 = number of + symbols (i.e., + residuals) N2 = number of — symbols (i.e., — residuals) R = number of runs
Then under the null hypothesis that the successive outcomes (here, residuals) are independent, and assuming that N1 > 10 and N2 > 10, the number of runs is (asymptotically) normally distributed with
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