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Merrill Lynch, a wealth management and financial services company, is considering recommending a new stock to...

Merrill Lynch, a wealth management and financial services company, is considering recommending a new stock to its clients. Prior to recommending it, they want to be able to say that the stock has outperformed the market return of 7% in the last ten years. To be as detailed as possible, they use monthly return data for the past 3 years. The average return for the stock is 7.3% and the known population standard deviation for stocks is 3%. Note, use whole numbers for percent (example for 7.3% plug in 7.3 not .073)

Calculate the correct p-value for the test.

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