PERIOD		JAZMAN		SOLOMON
1		$8		$27
2		11		28
3		9		32
4		13		29
(Click on the icon located on the top-right corner of the data table above in order to copy its contents into a spreadsheet.)

From the price data here,

A) compute the holding-period returns for Jazman and Solomon for periods 2, 3 and 4.

Hint:

Calculate the holding-period return against the previous period. In other words, holding-period returns from period 1 to 2, from period 2 to 3 and from period 3 to 4.

b. How would you interpret the meaning of a holding-period return?