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Explain why the beta of the S&P 500 Index is 1.0. HINT: Look at the characteristic line anyone of the attached diagram(s) and imagine that

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Explain why the beta of the S&P 500 Index is 1.0. HINT: Look at the characteristic line anyone of the attached diagram(s) and imagine that the same S&P 500 Index data was on both the x-axis and the y-axis. Where would the characteristic line fall in that case?

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