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Here are inflation rates and U'S Stock market and Treasury bill returns from 1929 - 1933: Year Inflation (%) Stock Market Return (%) T-Bill

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Here are inflation rates and U'S Stock market and Treasury bill returns from 1929 - 1933: Year Inflation (%) Stock Market Return (%) T-Bill Return (%) 1929 -0.2 -14.5 4.8 1930 -6.0 -28.3 2.4 1931 -9.5 -43.9 1.1 1932 -10.3 -9.9 1.0 1933 0.5 57.3 0.3 a. What was the real return on the stock market in each year? b. What was the arithmetic average real return? c. What was the risk premium in each year? d. What was the average risk premium? e. What was the standard deviation of the risk premium?

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