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please show steps The 2015 quarterly prices for The Hershey Company and Packaging Corporation of America are listed below along with any dividend paid. Hershey

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The 2015 quarterly prices for The Hershey Company and Packaging Corporation of America are listed below along with any dividend paid. Hershey Packaging Corporation of America Quarter Po P. Dividend Quarter Dividend 1 $106.18 $114.83 $0.72 1 $81.87 $99.38 $0.79 2 $114.83 $134.03 $0.72 2 $99.38 $95.23 $0.79 3 $134.03 $154.99 $0.77 3 $95.23 $106.10 $0.79 4 $154.99 $146.98 $0.77 4 $106.10 $111.99 $0.79 P 1) What was Hershey's annual return 12015? 10 points 2) What was Packaging Corporation's annual return in 2015? 10 points 50 Below are the annual returns for The Hershey Company and Packaging Corporation of America for 2016 through 2019. Year The Hershey Company Packaging Corporation of America 2016 -0.172 2017 0.187 0.390 2018 0.123 0.455 2019 -0.030 -0.287 -0.123 3) Together with the 2015 returns you'Calculated in the previous question, what is the average annual return for Hershey over this period? 10 points 4) What is the variance of returns for Hershey? 10 points 5) What is the standard deviation of returns for Hershey? 10 points 6) Together with the 2015 returns you calculated in the previous question, what is the average annual return for Packaging Corporation over this period? 10 points 7) What is the variance of returns for Packaging Corporation? 10 points 8) What is the standard deviation of returns for Packaging Corporation? 10 points 9) What is the covariance of returns between The Hershey Company and Packaging Corporation of America? 10 points 10) What is the correlation between Hershey's returns and Packaging's returns? 10 points 11) Based on the five years of return data above, why or why not would you expect that combining The Hershey Company and Packaging Corporation of America into a stock portfolio made up of 50% of each stock would provide significant benefits of diversification? 10 points

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