Consider the following table for a period of six years:

Year	Returns
Large-Company Stocks	U.S. Treasury Bills
1	15.99%	7.55%
2	26.86	8.12
3	37.49	6.13
4	24.19	6.37
5	7.68	5.58
6	6.83	8.03

a-1. Calculate the arithmetic average returns for large-company stocks and T-bills over this time period.

Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.

a-2. Calculate the standard deviation of the returns for large-company stocks and T-bills over this time period.

Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.

Calculate the observed risk premium in each year for the large-company stocks versus the T-bills.

b-1. What was the arithmetic average risk premium over this period?

Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.

b-2. What was the standard deviation of the risk premium over this period?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.