Essay
The following table shows the observed frequencies of the quarterly returns for a sample of 60 hedge funds.The table also contains the hypothesized proportions of each class assuming the quarterly returns have a normal distribution.The sample mean and standard deviation are 3.6% and 7.4% respectively. 
A)Set up the competing hypotheses for the goodness-of-fit test of normality for the quarterly returns.
B)Calculate the value of the test statistic and determine the degrees of freedom.
C)Compute the p-value.Does the evidence suggest that the quarterly returns do not have a normal distribution at the 10% significance level?
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Correct Answer:
Verified
The test statistic is given by and the...View Answer
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