$2\mathrm{.}5$ Are average returns significantly different from zero? $(6$ points$)$

Under the assumption that the returns of each asset are drawn from an independently and identically distributed normal distribution, are the expected returns of each asset statistically different from zero at the $1\%$

level of significance?

Part $1$: Provide details for all $5$ steps to conduct a hypothesis test, including the equation for the test statistic.

$(1$ points$)$

Part $2$: Calculate and report all the relevant values for your conclusion and be sure to provide an interpretation of

the results. $($Hint: you will need to repeat the test for expected returns of each asset$)(3$ points $-$ one for each stock$)$

Part $3$: If you would have done this question using Chat$-$GPT$,$ what answer will you get? $($hints: you will need to

describe how you promptthe question in Chat$-$GPT to guide the answer $(1$ point$),$ would expect your answer to be

different or similar to your answer above $(1$ point$))$