The follow ing tab le sh o w s th e annual returns (in percent) for Fidelity's Electronic and Utilities funds.

Year E lectro nic U tilitie s 2005 13.23 9.36 2006 1.97 32.33 2007 2.77 21.03 2008 − 50.00 − 35.21 2009 81.65 14.71 Source: w w w .fin a n c e .y a h o o .c o m .

U sing t h e critical v a lu e a p p r o a c h , t e s t if t h e p o p u la tio n variances differ at th e 5% significance level. State your assum ptions.

2 9. (U se Excel) Nike's total r e v e n u e s (in m illions o f $) for th e Asian and Latin American regions for th e years 200 5 through 2 0 0 9 are as follows:

2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 Asia 1,897 2,054 2,296 2,888 3,322 Latin America 696 905 967 1,165 1,285 S ource: N ik e O n lin e A n n u a l R e p o rts.

a. S p ecify t h e c o m p e t i n g h y p o th e sis in ord er t o te s t w h e th e r th e variance in rev en u es is greater in Asia th an in Latin America.

b. U se Excel to calculate descriptive statistics and th e r elevan t t e s t statistic.

c. U se Excel's F.DIST fu n c tio n t o c a lcu la te t h e p -v a lu e .

d. At α = 0.01 w h a t is your conclusion? P-399