1. A researcher wishes to determine whether the returns to a particular stock follow a normal distribution. She obtains the following results after undertaking some statistical tests:

Variable	Skewness	Kurtosis	Bera Jarque test-statistic
	Value	Standard error	Z-score	Value	Standard error	Z-score	P-value
Stock returns	0,398	0,58	0,686	0.825	1,12	-0,732	0,2

1. Undertake a hypothesis test to determine whether the data are skewed using a 5% level of significance.
2. Undertake a hypothesis test to determine whether the kurtosis of the data, are consistent with normality using a 5% level of significance.
3. Using two different methods, perform an overall test for normality using a 5% significance level.
4. Clearly explain the relationship between the hypothesis tests undertaken in 1 and 2 above and the hypothesis test undertaken in 3.
5. Discuss the various graphical techniques that are commonly used to describe the shape of the distribution of financial returns.