The following table lists the annual returns in percent for, Basic Statistics

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The following table lists the annual returns in percent for

The following table lists the annual returns (in percent) for a top-perform ing mutual fund, ING Russia, over the last decade.

1385_top-perform ing mutual fund.png

a. Specify the competing hypotheses in order to determine whether the median return differs from 8%. b. Calculate the value of the test statistic. Do not assume the normal approximation for T.

c. At the 10% significance level, what is the decision rule?

d. Does the median return differ from 8%?

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