According to BusinessWeek, the Standard & Poor's 500 Index posted an average gain of 13% for 2006.12

Question:

According to BusinessWeek, the Standard & Poor's 500 Index posted an average gain of 13% for 2006.12 If a random sample of 50 stocks from this index reveals an average gain of 11% and standard deviation of 6%, can you reject the magazine's claim in a two-tailed test? What is your p-value?

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...