单选题

Using the following sample results drawn as 25 paired observations fTom their underlying distribution s, test whether the m ean retu rns of the two porte'olios differ from each other at the 1% level of statistical significance. Assume th e underlying distributions of returns for each portfolio are normal and that their population variances are not known.

【正确答案】 B
【答案解析】

The test statistic is: where