Using the data in Table 10.2,

a. What was the average dividend yield for the SP500 from 2005–2017?

b. What was the volatility of the dividend yield?

c. What was the average annual return of the SP500 from 2005–2017 excluding dividends (i.e., from capital gains only)?

d. What was the volatility of the S&P 500 returns from capital gains?

e. Were dividends or capital gains a more important component of the S&P 500’s average returns during this period? Which were the more important source of volatility?