$20$ Suppose that you have estimated the empirical CAPM for $4$ portfolios, and obtained the

following:

Enter the value of Wald test statistics with two decimals:

You will need to copy the contents of the datafile from Google Sheets to your local Excel

to do the calculation.

Alternatively, you may also directly type in the matrices manually in Excel to do the

calculation without copying from the Google sheets under the resource.