Refer to The Journal of Finance (December 2011) study of whether the decision to invest in the stock market is dependent on IQ, Exercise 3.46 (p. 158). Recall that an IQ score (from a low score of 1 to a high score of 9) was determined for each in a sample of 158,044 Finnish citizens. Also recorded was whether or not the citizen invested in the stock market. The accompanying table gives the number of Finnish citizens in each IQ score/investment category. Which group of Finnish citizens (market investors or noninvestors) has the highest average IQ score?

Transcribed Image Text:

IQ Score Invest in Market No Investment Totals 4,659 9,409 9,993 19,682 24,640 21,673 11,260 7,010 5,067 893 1,340 2,009 5,358 8,484 10,270 6,698 5,135 4,464 5,552 10,749 12,002 25,040 33,124 31,943 17,958 12,145 9,531 44,651 113,393 Totals 158,044 1234 5678