1. Calculating Average Returns (LO1, CFA1) The rates of return on Cherry Jalopies, Inc., stock over the last five years were 17 percent, 11 percent, -2 percent, 3 percent, and 14 percent. Over the same period, the returns on Straw Construction Company's stock were 16 percent, 18 percent, -6 percent, 1 percent, and 22 percent.calculate the variances and the standard deviations for Cherry and Straw.

Please write the answer explaining the Variance formula do not use excel.