Consider the daily log returns of American Express stock from September 1, 2001 to September 30, 2011 as in Problem 1. Use the 5\% significance level to perform the following tests: (i) Test the null hypothesis that the skewness measure of the returns is zero and (ii) test the null hypothesis that the excess kurtosis of the returns is zero.

Data From Problem 1:

Consider the daily simple returns of American Express (AXP), CRSP value weighted index (VW), CRSP equal-weighted index (EW), and the S\&P composite index (SP) from September 01, 2001 to September 30, 2011. Returns of indices include dividends. The data are in the file \(d-a x p 3 d x-0111\). txt (date, axp, vw, ew, sp).