8. The information of the average returns, standard deviations, and betas of two mutual funds and the S&P 500 Index is provided in the following table. The risk free rate of return is 3%. Safe Fund Frontier Fund S&P 500 Index Average Annual Return 17.4% 21% 13% Standard Deviation 30% 40% 25% Beta 0.72 1.2 1 a) Which mutual fund has a lower ranking of the Sharpe measure? Briefly explain the meaning of this measure. b) Which mutual fund has a higher ranking of the Treynor measure? Briefly explain the meaning of this measure. c) What is Jensen's Alpha? Carefully explain the meaning of Jensen's Alpha. Which of the mutual funds has the best Jensen's Alpha