Question: The following table presents the returns of two mutual funds offered by the investment giant Fidelity. The Fidelity Select Automotive Fund invests primarily in companies engaged in the manufacturing, marketing, or sales of automobiles, trucks, specialty vehicles, parts, tires, and related services. The Fidelity Gold Fund invests primarily in companies engaged in exploration, mining, processing or dealing in gold and, to a lesser degree, in other precious metals and minerals. A portion of the annual return data is shown below; the full data set is available on the text website, labeled Fidelity Returns.
In a report, use the above information to:
1. Use descriptive statistics to compare the returns of the mutual funds.
2. Assess reward by constructing and interpreting 95% confidence intervals for the population mean return. What assumption did you make for the interval estimates?