A financial analyst was analyzing the performance of the stocks on the New York Stock Exchange, for a recent year. He wondered whether the mean rate of return for such stocks was negative (that is, le

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A financial analyst was analyzing the performance of the stocks on the New York Stock Exchange, for a recent year. He wondered whether the mean rate of return for such stocks was negative (that is, less than zero). He decided to test the null hypothesis H0:μ=0 H 0 : μ = 0 against Ha:μ<0 H a : μ < 0 . He randomly sampled 60 stocks and recorded their rates of return for the year. He calculated x¯=−1.1 x ¯ = − 1.1 . Assuming that σ=6.3 σ = 6.3 , calculate the test statistic and P-value for this hypothesis test.

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