(1) Using SAS obtain the skewness and excess kurtosis for each of these returns and display them in tabular form. What can you say about skewness and tail behavior of the each ? Please use necessary statistical analysis to make your conclusions. In so doing, test the hypothesis that if skewness and excess kurtosis are different than 0 for each stock using a œ 0.05 level of significance.
(2) Are the mean returns different than 0 for each of these stocks ? test the hypothesis separately for each of these stocks using 0.05 level of significance and state a œ your conclusions and reasoning using the SAS output.
(3) Transform the simple returns to log returns. What can we say about normality of the log returns of each stock ? Please state your conclusions and reasoning using the SAS output.
(4) Using SAS estimate the autocorrelation function for log returns of AMEX. Using the SAS output test the the hypothesis (using 0.05) that autocorrelations at the first 24 a œ lags are equal to zero. Please state your conclusions and reasoning using the SAS output.

(5) Using SAS obtain the scatter plot of log returns of AMEX versus log returns of CAT. Are the log returns of AMEX positively correlated with log returns of CAT ? Please use the appropriate analysis using SAS and state your conclusions and reasoning.