Consider the following table for the period from 1973 through 1980.

Year	T-bill return	Inflation
1973	7.29%	8.71%
1974	7.99	12.34
1975	5.87	6.94
1976	5.07	4.86
1977	5.45	6.70
1978	7.64	9.02
1979	10.56	13.29
1980	12.10	12.52

Requirement 1:

Calculate the average return for Treasury bills and the average annual inflation rate (consumer price index) for this period. (Do not round intermediate calculations. Enter your answers as a percentage rounded to 2 decimal places (e.g., 32.16).)

Average return for Treasury bills	%
Average annual inflation rate	%

Requirement 2:

Calculate the standard deviation of Treasury bill returns and inflation over this time period.(Do not round intermediate calculations. Enter your answers as a percentage rounded to 2 decimal places (e.g., 32.16).)

Standard deviation of Treasury bills	%
Standard deviation of inflation	%

Requirement 3:

(a)	Calculate the real return for each year. (Do not round intermediate calculations. Enter your answers as a percentage rounded to 2 decimal places (e.g., 32.16). Negative amounts should be indicated by a minus sign.)

Year	Real return
1973	%
1974	%
1975	%
1976	%
1977	%
1978	%
1979	%
1980	%

(b)	What is the average real return for Treasury bills? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16). Negative amount should be indicated by a minus sign.)