8-22.

Evaluating Risk and Return Bartman Industriess and Reynolds Inc.s stock prices and dividends, along with the Winslow 5000 Index, are shown here for the period 20122017. The Winslow 5000 data are adjusted to include dividends.

	Bartman Industries		Reynolds Inc.		Winslow 5000
Year	Stock Price	Dividend	Stock Price	Dividend	Includes Dividends
2017	$17.25	$1.15	$48.75	$3.00	$11,663.98
2016	14.75	1.06	52.30	2.90	8,785.70
2015	16.50	1.00	48.75	2.75	8,679.98
2014	10.75	0.95	57.25	2.50	6,434.03
2013	11.37	0.90	60.00	2.25	5,602.28
2012	7.62	0.85	55.75	2.00	4,705.97

Calculate the standard deviations of the returns for Bartman, Reynolds, and the Winslow 5000. (Hint: Use the sample standard deviation formula, Equation 8.2a in this chapter, which corresponds to the STDEV function in Excel.)