Consider the following monthly returns.

Year Return (in %) 2020 0.93 2020 -6.16 2020 2.47 2020 8.63 2020 0.00 2020 12.33 2020 6.16 2020 11.09 2020 -1.23 2020 3 2.47 2020 2 0.00 2020 1 -6.16 a) Calculate the average geometric return in % (Round to closest 2 decimal places). b) Calculate the average arithmetic return in % (Round to closest 2 decimal places). | c) It is claimed that return is more accurate due to Month 12 11 10 9 8 7 6 5 effect. % %