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22. Which of the following best defines the variance of an investment's annual returns over a number of years? A. The average difference between the

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22. Which of the following best defines the variance of an investment's annual returns over a number of years? A. The average difference between the annual returns and the average return for the period B. The average squared difference between the actual returns and the arithmetic average return C. The squared summation of the differences between the actual returns and the average geometric return

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