Five years of realized returns for HDS are given in the following table. Remember:

1. While HDS was started 40 years ago, its common stock has been publicly traded for the past 25 years.
2. The returns on its equity are calculated as arithmetic returns.
3. The histor ical returns for HDS for 2012 to 2015 are:

2012	2013	2014 2015	2016
18.75%	12.75%	22.50% 31.50%	9.75%

Given the preceding data, the average realized return on HDS's stock is -----

H The preceding data series represents --------------------------- of HDS's historical returns. Based on this conclusion, the

standard deviation of HDS's historical returns is?

If investors expect the average realized return from 2012 to 2016 on HDS's stock to continue into the future, its coefficient of variation (CV) will be ---