Many mutual funds use an investment approach involving owning stocks whose price/earnings multiples (P/Es) are less than

Question:

Many use an investment approach involving owning whose price/earnings multiples (P/Es) are less than the P/E of the S&P 500. The following data give P/Es of 49 companies a randomly selected mutual fund owns in a particular year.

Many mutual funds use an investment approach involving owning stocks

Find a 98% confidence interval for the mean P/E multiples. Interpret the result and state any assumptions you have made.

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing... Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...