1. Use the Lo and Maclinlay (1988) method to test the Random Walk theory for 2-, 4-, 8- and 16-day returns for the following index respectively. Use the last five years daily return.

• Russell 1000 Growth (R.1000G)
• Russell 1000 Value (R.1000V)

2. Run the test and write the interpretation in an Excel file. Compare the results for two indices. Explain why there is a difference or no difference.

please do in in excel sheet too thank you