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Q 7 . 2 8 . The following were the Dec 3 1 prices of Bitcoin. table [ [ 2 0 1 4 ,

Q 7.28. The following were the Dec 31 prices of Bitcoin.
\table[[2014,2015,2016,2017],[320,431,964,14,156],[2018,2019,2020,2021],[3,743,7,194,29,002,46,306]]
Bitcoin pays no dividends. Calculate the arithmetic rate of return, the geometric rate of return, and the volatilities of annual returns. Why was the geometric rate of return lower than the arithmetic rate of return?
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