Consider the annual returns produced by two different active equity portfolio managers (A and B) as well as those to the stock index with which they are both compared: Period 1 1 2 Manager A 13.2% -2.1 14.9 Manager B 13.7% -4.7 Index 11.7% -2.0 3 13.2 18.6 4 0.4 2.0 -0.6 5 -6.9 -3.0 -6.8 25.4 6 24.7 21.7 7 -12.2 - 13.3 -11.5 5.2 5.3 5.3 8 9 3.2 4.4 2.0 10 19.7 18.6 19.5 a. Did either manager outperform the index, based on the average annual return differential that he or she produced relative to the benchmark? Use a minus sign to enter negative values, if any. Do not round intermediate calculations. Round your answers to two decimal places. Manager A: % Manager B: % -Select- 's average return is less than the index and -Select- 's average exceeded that of the index. b. Calculate the tracking error for each manager relative to the index. Which manager did a better job of limiting his or her client's unsystematic risk exposure? Do not round intermediate calculations. Round your answers to two decimal places. Manager A: % Manager B: % did the better job of limiting the client's exposure to unsystematic risk as the difference between manager's returns and those of the index has a -Select- v standard -Select- deviation