- The null hypothesis is H_0: μ_1=μ_2=μ_3 or all the mean return on investment for industry-specific ETFs is equal.
The alternative hypothesis is H_0: μ_1≠μ_2≠μ_3 or not all the mean return on investment for industry-specific ETFs are equal. - The level of significance is 0.05
- Test statistic: F = 55.07
P-value = 0.000 - Since the p-value is less than 0.05 (level of significance), we reject the null hypothesis and conclude that the sample data is consistent with the alternative hypothesis that not all the mean return on investment for industry-specific ETFs are equal.
- Yes, the side-by-side boxplot supports our conclusion of the hypothesis test because the average returns for financial, energy, and technology are different.