Update the data in Table 4. 1 for Microsoft. Download monthly stock returns for MSFT and the S &P 500 index from Yahoo Finance. Download monthly Treasury bill rates from the Federal Reserve Bank of St. Louis (https://fred.stl ouisfed.org/series/DGS1MO). Gather data for 36 months. What did you get for the intercept? Beta? Are these model parameters significant as determined by t-statistics? Also, draw a plot of the fitted regression line with excess MSFT returns on the Y-axis and excess S &P 500 index returns on the X-axis. Do the results support the CAPM?

Table 4.1

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Table 4.1 Monthly returns for Microsoft (MSFT), S &P 500 index, and Treasury bills from January 2018 to December 2020 Year/Month MSFT Tbill S&P 500 18/1 18/2 18/3 18/4 -1.31 0.11 -2.67 0.12 2.47 0.14 5.69 0.14 0.14 18/5 -0.23 18/6 7.58 18/7 5.89 1.82 -6.61 3.82 18/11 -8.40 18/12 2.82 19/1 7.28 18/8 18/9 18/10 19/2 5.28 19/3 10.73 19/4 -5.30 19/5 19/6 19/7 19/8 19/9 19/10 19/11 19/12 20/1 -4.83 8.31 1.72 1.17 0.85 3.12 5.59 4.17 7.95 -2.65 13.63 2.25 11.06 0.15 0.16 0.16 0.17 0.18 0.19 0.20 0.20 0.20 0.20 0.20 0.20 0.19 0.18 0.17 0.17 0.14 0.13 0.13 0.13 20/2 20/3 20/4 20/5 20/6 0.74 0.01 20/7 10.01 0.01 20/8 -6.74 0.01 0.13 0.03 0.01 0.01 -3.89 -2.69 0.27 2.16 0.48 3.60 3.03 0.43 -6.94 1.79 -9.18 7.87 2.97 1.79 3.93 -6.58 6.89 1.31 -1.81 1.72 2.04 3.40 2.86 -0.16 -8.41 -12.51 12.68 4.53 1.84 5.51 7.01 -3.92 Excess MSFT Excess S&P 500 -4.00 -2.80 0.14 2.02 -1.41 -2.78 2.33 5.55 -0.37 7.42 5.73 1.65 -6.78 3.64 -8.59 262 7.08 5.07 10.53 -5.50 8.11 1.54 0.99 0.68 2.96 5.44 4.04 7.82 -4.96 -2.79 13.60 2.25 11.05 0.73 10.00 -6.75 0.34 3.45 2.87 0.27 -7.11 1.60 -9.36 7.67 2.77 1.59 3.73 -6.78 6.69 1.13 -1.99 1.55 1.88 3.26 2.73 -0.29 -8.54 -12.64 12.65 4.52 1.83 5.50 7.00 -3.93