3. Suppose you own 2 stocks, A and B. In year 1, stock A earns a 2% return and stock B earns a 9% return. In year 2, stock A earns an 18% return and stock B earns an 11% return. has the higher arithmetic average return. (b) (C) (d) Stock A Stock B The two stock have the same arithmetic average return At least three periods are needed to calculate the arithmetic average return