Question 3 You have decided to use the classical hypothesis testing approach to test Maryann’s claim that the prices for SPDR Gold ETF and Spot Gold differs. You should include the following: (a) State the null and alternative hypotheses and explain how you develop these two (2) hypotheses. (5 marks) (b) Execute the hypothesis testing with α = 0.01 using Excel. Present and list the test statistic you use for this test. Explain your decision criteria and inform the outcome to your parents. (15 marks) (c) Discuss the assumptions you have made in performing the hypothesis test? Are these assumptions reasonable for this case? Please provide explanation(s) to substantiate your view. (10 marks)

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