You are given the following summary statistics from a sample of 50 observations:

Mean ................................ 77.25

Standard Deviation ............... 11.36

Skewness ........................... 1.12

Kurtosis ............................. 1.63

a. Using the Jarque-Bera test, specify the null and alternative hypotheses to determine whether or not the data are normally distributed.

b. At the 5% significance level, what is the critical value?

c. Calculate the value of the test statistic.

d. What is the conclusion? Can you conclude that the data do not follow the normal distribution?

Explain.