For the week ended January 15, 2009, the bullish sentiment of individual investors was
27.6% (AAII Jouranl,February 2009). The bullish sentiment was reported to be 48.7% one
week earlier and 39.7% one month earlier. The sentiment measures are based on a poll conducted by the American Assocation of Individual Investors. Assume that each of the bullish sentiment measures was based on a sample size of 240