Q13. The table below presents the weekly prices of the S&P 500 index and Apple during a five year period between the beginning of 2016 and the end of 2020. (1) Please calculate the beta of Apple over the five-year period. (5 points) (2) Discuss the calculated beta for the company and explain whether the estimated beta makes intuitive sense. (5 points) Date 1/1/16 1/8/16 1/15/16 1/22/16 1/29/16 2/5/16 2/12/16 2/19/16 2/26/16 3/4/16 3/11/16 3/18/16 3/25/16 4/1/16 4/8/16 4/15/16 4/22/16 4/29/16 5/6/16 5/13/16 5/20/16 5/27/16 6/3/16 S&P 500 Price 1,943.09 1,921.84 1,868.99 1,893.36 1,915.45 1,829.08 1,917.83 1,951.70 1,993.40 1,989.57 2,040.59 2,035.94 2,059.74 2,041.91 2,082.78 2,091.48 2,075.81 2,050.63 2,064.11 2,040.04 2,090.10 2,105.26 2,115.48 Apple Price 22.24 22.94 22.20 21.69 22.27 21.72 22.31 22.43 23.53 23.45 24.52 24.49 25.26 25.16 25.98 24.56 21.98 21.61 21.07 21.97 23.42 22.79 23.24