During Red's time as head of the Bank of Bramblewood, the bank offered three services: time deposits, demand deposits, and home and business loans. Under Patty's leadership, the bank offers those services, a variety of investment opportunities such as mutual funds and bonds, and they are set-up to provide through the Internet which may involve a number of services such as paying bills directly from one's account, or transferring money from one account to another.

Suppose a mutual fund qualifies as having moderate risk if the standard deviation of its monthly rate of return is less than 3%. a mutual-fund rating agency randomly selects 27 months and determines the rate of return for a certain fund. the standard deviation of the rate of return is computed to be 2.19%. is there sufficient evidence to conclude that the fund has moderate risk at the alpha equals 0.05 level of significance? a normal probability plot indicates that the monthly rates of return are normally distributed.