Normally distributed stock fund annual expenses

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Reference no: EM1386190

Suppose that 10 years ago the average annual expense for stock funds was 1.19 percent. Let µ be the current mean annual expense for all stock funds, and assume that stock fund annual expenses are approximately normally distributed. If a random sample of 12 stock funds gives a sample mean annual expense of formula31.mml = 1.61% with a standard deviation of s = .34%, use critical values and this sample information to test H0: µ < 1.19% versus Ha: µ > 1.19% by setting α equal to .10, .05, .01, and .001. How much evidence is there that the current mean annual expense for stock funds exceeds the average of 10 years ago? (Round your answers to 3 decimal places.)

Reference no: EM1386190

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