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1. While CCC was started 40 years ago, its common stock has been publicly traded for the past 25 years. 2. The returns on its

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1. While CCC was started 40 years ago, its common stock has been publicly traded for the past 25 years. 2. The returns on its equity are calculated as arithmetic returns. 3. The historical returns for CCC for 2012 to 2016 are: 2012 2013 2014 2015 2016 Stock return 10.00% 6.80% 12.00% 16.80% 5.20% Given the preceding data, the average realized return on CCC's stock is of CCC's historical returns. Based on this conclusion, the standard deviation of CCC's The preceding data series represents historical returns is If investors expect the average realized return from 2012 to 2016 on CCC's stock to continue into the future, its coefficient of variation (CV) will be

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