A study was undertaken to assess the effect of the sheer size of a portfolio  (leaving out all other effects, such as degree of diversity? cation) on abnormal performance, that is, the performance of a stock portfolio that is above what one can expect based on the stock market as a whole. In a four-factor design based on portfolio size for well- diversi? ed portfolios, with 240 data points, the F statistic was signi? cant at the 1% level of signi? cance.8 Explain.

 Give 95% con?dence intervals for the remaining four population mean responses to the Club Med resorts (the one for Guadeloupe having been given in the text).

 

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