in excel, calculate the annual returns in years 1-10 for a price-weighted index, a value-weighted index, and an equally weighted index and answer the following:

1. The price-weighted index divisor in year 5, following a 3:1 split in EFG is:
2. The price-weighted index divisor in year 7, following a 1:2 reverse split in ABC is:
3. The annual arithmetic mean return for the price-weighted index is:
4. The annual geometric mean return for the price-weighted index is:
5. The annual arithmetic mean return for the value-weighted index is:
6. The annual geometric mean return for the value-weighted index is:
7. The annual arithmetic mean return for the unweighted index is:
8. The annual geometric mean return for the unweighted index is:
9. Why are the geometric mean returns always smaller than the arithmetic means?

Stock Price ABC XYZ 2000 2000 750 750 750 2000 2000 750 Stock Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 ABC $12.00 $15.94 $17.68 $19.79 $17.35 $19.24 $25.87 $31.52 $24.57 $28.06 $30.16 EFG $126.00 $163.80 $196.15 $226.27 $229.89 $77.20 $105.88 $63.78 $53.20 $56.55 $65.45 JKL XYZ $500.00 $75.00 $749.20 $109.98 $876.93 $133.13 $988.30 $166.83 $1,482.35 $213.35 $1,515.40 $232.03 $2,187.78 $310.13 $1,109.42 $187.69 $952.21 $181.32 $1,057.14 $213.03 $1,453.88 $289.67 2000 2000 Shares Outstanding EFG JKL 500 75 500 75 500 500 500 75 1500 75 1500 1500 1500 1500 1500 750 750 750 750 2000 750 1000 1000 1000 1000 750 750 Stock Price ABC XYZ 2000 2000 750 750 750 2000 2000 750 Stock Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 ABC $12.00 $15.94 $17.68 $19.79 $17.35 $19.24 $25.87 $31.52 $24.57 $28.06 $30.16 EFG $126.00 $163.80 $196.15 $226.27 $229.89 $77.20 $105.88 $63.78 $53.20 $56.55 $65.45 JKL XYZ $500.00 $75.00 $749.20 $109.98 $876.93 $133.13 $988.30 $166.83 $1,482.35 $213.35 $1,515.40 $232.03 $2,187.78 $310.13 $1,109.42 $187.69 $952.21 $181.32 $1,057.14 $213.03 $1,453.88 $289.67 2000 2000 Shares Outstanding EFG JKL 500 75 500 75 500 500 500 75 1500 75 1500 1500 1500 1500 1500 750 750 750 750 2000 750 1000 1000 1000 1000 750 750