Question 13 1 . Report the Fama- MacBeth test statistic , i. e . sart ( N ) * avg ( X ) / staldev ( X ) , where Nis the number of observations ( the number of months ) , and X is the monthly estimated slope coefficient on MarketCap when explaining Returns by MarketCap and CAPM- Beta (i.e . the slope coefficients from the previous regression ) . Round the value to two decimal digits , and use the dot to separate decimal from non-decimal digits , i.e . enter like : 12. 23 Use all slope coefficients from 2005 ( i.e. N = 12 )