Table 5. Relative frequency with which... | Emerald Publishing

Table 5.

Relative frequency with which daily closing prices of Islamic stocks issued in Pakistan clustered on each digit

Digit	Oil & gas development comp.		Mari petroleum comp.		Lucky cement		Pakistan petroleum
Digit	Freq.(%)	z-stat.	Freq.(%)	z-stat.	Freq.(%)	z-stat.	Freq.(%)	z-stat.
0	10.22	0.248	11.61	1.736*	9.51	−0.555	10.82	0.894
1	10.45	0.494	8.79	−1.386	10.81	0.883	9.60	−0.451
2	10.09	0.100	9.46	−0.606	10.40	0.445	9.60	−0.451
3	9.06	−1.071	10.58	0.641	9.46	−0.606	10.32	0.354
4	10.72	0.786	9.55	−0.504	10.45	0.494	9.73	−0.298
5	10.13	0.149	10.22	0.248	10.54	0.592	9.78	−0.248
6	9.69	−0.352	9.28	−0.812	10.18	0.199	10.32	0.354
7	10.04	0.050	10.45	0.494	8.30	−1.974**	9.00	−1.126
8	9.64	−0.403	10.85	0.931	10.18	0.199	10.91	0.990
9	9.96	−0.050	9.19	−0.915	10.18	0.199	9.91	−0.096
0+5	20.36	0.298	21.84	1.509	20.04	0.037	20.60	0.495
Even digits	50.36	0.240	50.76	0.509	50.72	0.479	51.39	0.920
Chi-square stat.	4.260		15.713		10.789		6.971
p-value (Chi-square test)	0.893475		0.073122		0.290432		0.640149

Digit	Oil & gas development comp.		Mari petroleum comp.		Lucky cement		Pakistan petroleum
Digit	Freq.(%)	z-stat.	Freq.(%)	z-stat.	Freq.(%)	z-stat.	Freq.(%)	z-stat.
0	10.22	0.248	11.61	1.736*	9.51	−0.555	10.82	0.894
1	10.45	0.494	8.79	−1.386	10.81	0.883	9.60	−0.451
2	10.09	0.100	9.46	−0.606	10.40	0.445	9.60	−0.451
3	9.06	−1.071	10.58	0.641	9.46	−0.606	10.32	0.354
4	10.72	0.786	9.55	−0.504	10.45	0.494	9.73	−0.298
5	10.13	0.149	10.22	0.248	10.54	0.592	9.78	−0.248
6	9.69	−0.352	9.28	−0.812	10.18	0.199	10.32	0.354
7	10.04	0.050	10.45	0.494	8.30	−1.974**	9.00	−1.126
8	9.64	−0.403	10.85	0.931	10.18	0.199	10.91	0.990
9	9.96	−0.050	9.19	−0.915	10.18	0.199	9.91	−0.096
0+5	20.36	0.298	21.84	1.509	20.04	0.037	20.60	0.495
Even digits	50.36	0.240	50.76	0.509	50.72	0.479	51.39	0.920
Chi-square stat.	4.260		15.713		10.789		6.971
p-value(Chi-square test)	0.893475		0.073122		0.290432		0.640149

Notes:

*Significance at the 10% level; ** significance at the 5% level

Source: Own elaboration