Net assets for the 50 largest stock mutual funds show a median of $15 billion. A sample of 10 of the 50 largest bond mutual funds follows.
| Bond Fund | Net Assets |
|---|---|
| Fidelity Intl Bond | 6.1 |
| Franklin CA TF | 11.7 |
| American Funds | 22.4 |
| Vanguard Short Term | 9.6 |
| PIMCO: Real Return | 4.9 |
| T Rowe Price New Income | 6.9 |
| Vanguard GNMA | 15.0 |
| Oppenheimer Intl Bond | 6.6 |
| Dodge & Cox Income | 14.5 |
| iShares: TIPS Bond | 9.6 |
Using the median, can it be concluded that bond mutual funds are smaller and have fewer net assets than stock mutual funds? Use
?? = 0.05.
(a)
What are the hypotheses for this test?
H0: Median ? 15
Ha: Median = 15H0: Median < 15
Ha: Median = 15 H0: Median = 15
Ha: Median < 15H0: Median = 15
Ha: Median > 15H0: Median = 15
Ha: Median ? 15
(b)
What is the p-value? (Round your answer to four decimal places.)
What is your conclusion?
Do not reject H0. There is sufficient evidence to conclude that bond mutual funds have significantly lower median net assets than stock mutual funds.Do not reject H0. There is not sufficient evidence to conclude that bond mutual funds have significantly lower median net assets than stock mutual funds. Reject H0. There is not sufficient evidence to conclude that bond mutual funds have significantly lower median net assets than stock mutual funds.Reject H0. There is sufficient evidence to conclude that bond mutual funds have significantly lower median net assets than stock mutual funds.
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