There are a tremendous number of mutual funds from which an investor can choose. Each mutual fund has its own mix of different types of investments. The data in BestFunds2 represent the 3-year annualized return, 5-year annualized return, 10-year annualized return, and expense ratio (in %) for the 10 mutual funds rated best by the U.S. News &World Report for foreign large-cap blend, small-cap blend, mid-cap blend, large-cap blend, and diversified emerging markets categories. (Data extracted from K. Shinkle, “The Best Funds for the Long Term, U.S. News &World Report, Summer 2010, pp. 52–56.) Analyze the data and determine whether any differences exist between foreign large-cap blend, small-cap blend, mid-cap blend, large-cap blend, and diversified emerging market mutual funds. (Use the 0.05 level of significance.)
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