The following table shows numerical summaries of the worst quarter returns (in percentages)for a sample of 121 hedge funds. 
a.Set up the competing hypotheses for the Jarque-Bera test for normality for the worst quarter returns.
b.Calculate the value of the test statistic and find thep-value.
c.Does the evidence suggest the worst quarter returns do not have a normal distribution at the 5% significance level?
Definitions:
T Distribution
A statistical distribution type that emerges when calculating the average of a population with a normal distribution, under conditions where there are few samples and the population's standard deviation is not known.
Degrees Of Freedom
The number of independent values within a calculation that can freely vary when estimating statistical parameters.
Standard Normal Distribution
A probability distribution that has a mean of zero and a standard deviation of one, represented by the bell curve where most occurrences take place near the mean.
T Distribution
A distribution of probability applied to infer parameters of a population when the sample size is limited and the population's variance is not known.
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