Solved: What would you expect the outcome of a test of significance, Basic Statistics

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What would you expect the outcome of a test of significance

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CASE STUDY EVALUATED - Look again at the Case Study

The ProFunds Internet Inv Fund was identified as among the top 1% in returns after looking at more than 10,000 mutual funds.

Does it make sense to look at past data, take a fund that is one of the best out of more than 10,000 funds, and ask if this fund was above average? What would you expect the outcome of a test of significance to show about the performance of the fund compared with the average performance of all funds?

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