Problem 7-8 Standard deviation of returns The following table shows the nominal returns on Brazilian stocks and the rate of inflation. Year 2012 2013 2014 2015 2016 2017 Nominal Return (%) 0.4 - 18.0 - 16.0 -42.3 67.1 27.8 Inflation (%) 6.7 6.8 7.3 11.6 7.2 3.8 a. What was the standard deviation of the market returns? (Use decimals, not percents, in your calculations. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Standard deviation % b. Calculate the average real return. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places) Average real return %