ER_MKT	ER_C
5.05	16.7617
4.42	8.4961
3.11	9.6939
-0.85	-9.5896
-6.19	-19.7558
3.89	3.3949
0.79	-1.0215
2.55	9.5366
2.73	10.1213
-1.76	14.2626
0.78	-7.5254
1.18	14.4245
5.57	6.5976
1.29	-0.4507
4.03	5.4086
1.55	5.4702
2.8	11.4445
-1.2	-7.7323
5.65	8.6929
-2.71	-7.2881
3.77	0.3724
4.18	0.5772
3.12	8.4871
2.81	-1.5306
-3.32	-8.9618
4.65	2.53
0.43	-2.118
-0.19	0.6513
2.06	-0.6888
2.61	-0.988
-2.04	3.8641
4.24	5.6021
-1.97	0.3291
2.52	3.3192
2.55	0.822
-0.06	0.2594
-3.11	-13.2138
6.13	11.6507
-1.12	-1.7169
0.59	3.4938
1.36	1.5191
-1.53	2.145
1.54	5.9196
-6.04	-8.5186
-3.08	-7.2363
7.75	7.2768
0.56	1.7303
-2.17	-4.3361
-5.77	-17.6332
-0.07	-8.78
6.96	7.4446
0.92	10.9601
1.78	0.6166
-0.05	-8.9957
3.95	3.7073
0.5	8.9506
0.25	-1.0883
-2.02	4.0452
4.86	15.0459
1.82	5.361

Estimate the CAPM model for C using the specification below:

(RcRf)=alphac+betac(RmRf)+ucRcRf)=alphac+betac(RmRf)+uc

Question 11: At the 5% significance level, what is the conclusion to the test? Is there evidence of "abnormal returns"?

		Reject H0H0; there is no evidence of negative abnormal returns.
		Do not reject H0H0; there is no evidence of negative abnormal returns.
		Reject H0H0; there is evidence of negative abnormal returns.
		Do not reject H0H0; there is evidence of positive abnormal returns.
		Reject H0H0; there is evidence of positive abnormal returns.