Question

Using data from the past 25 years, an investor wants to test whether the average return of Vanguard’s Precious Metals and Mining Fund is greater than 12%. Assume returns are normally distributed with a population standard deviation of 30%. Click here for the Excel Data File a. Select the null and the alternative hypotheses for the test. H0: μ ≤ 12; HA: μ > 12 H0: μ = 12; HA: μ ≠ 12 H0: μ ≥ 12; HA: μ < 12 b-1. Calculate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer to 2 decimal places.) b-2. Find the p-value. p-value < 0.01 0.01 ≤ p-value < 0.025 0.025 ≤ p-value < 0.05 0.05 ≤ p-value < 0.10 p-value ≥ 0.10 c-1. At α = 0.01, what is the conclusion? Reject H0 since the p-value is smaller than significance level. Reject H0 since the p-value is greater than significance level. Do not reject H0 since the p-value is smaller than significance level. Do not reject H0 since the p-value is greater than significance level. c-2. Is the return on Vanguard’s Precious Metals and Mining Fund greater than 12%? Yes No

Answer 1

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