A sample of 60 mutual funds was taken and the mean return in the sample was 13%
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Question:
A sample of 60 mutual funds was taken and the mean return in the sample was 13% with a standard deviation of 6.9%. The return on a particular index of stocks (against which the mutual funds are compared) was 11.5%. When testing the hypothesis (at the 5% level of significance) that the average return on actively-managed mutual funds is higher than the return on an index of stocks, what is the p-value? ANSWER :0.0465
Could you Please detail the answer, I havent taken stat in years so this is confusing again. Could you show me step by step how to arrive at the answer. I dont understand.
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