An article in BusinessWeek discusses the salvage value of bankrupt hedge funds compared with the salvage value of bankrupt consumer lenders.7 Suppose the following data are the value a shareholder can salvage, in cents per invested dollar, for random samples of the two kinds of institutions.
Hedge funds: 10, 15, 10, 17, 10, 11, 9, 9, 12
Consumer lenders: 25, 15, 15, 28, 33, 10, 29, 25, 18
Which kind of institution, if either, falls harder and leaves its unfortunate investors in more trouble?