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Question 15 1 pts In their paper Good Day Sunshine: Stock Returns and the Weather, professors Hirshleifer and Shumway find a significant relationship between morning

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Question 15 1 pts In their paper "Good Day Sunshine: Stock Returns and the Weather," professors Hirshleifer and Shumway find a significant relationship between morning sunshine in the city of a country's leading stock exchange and daily market index returns across 26 countries from 1982 to 1997. Sunshine is strongly and significantly correlated with stock returns. Their findings contradict (or not consistent with) which one of the following efficient market hypotheses? 1. Week form efficiency (because only past trading information was used in the study) 2. Semi-strong form efficiency (because only public information was used in the study) 3. Strong form efficiency (because all public and private information was used in the study) 4. Week form efficiency (because only public information was used in the study) 5. Semi-strong form efficiency (because only past trading information was used in the study)

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