Q2.3 The systematic risk of a stock is measured by its Beta. We get beta through a regression of the stock's return in excess of the risk free rate (ri-rf) onto the market's return in excess of the risk free rate (rm-rf). a) What is the Beta (5Y Monthly) for MSFT in Yahoo Finance? b) Calculate Beta yourself in Excel by regressing the MSFT excess returns onto the market's excess returns using monthly data spanning October 2012 to October 2022. You can get the market returns and the risk free rate each month from Kenneth French's website: c) https://mba.tuck.dartmouth.edu/pages/faculty/ken.french/ftp/FF_Research_Data_Factors_CSV.zip Note that you have to divide returns by 100 to get them into decimal form. Also note that since all you need is Beta, a shortcut is to use Excel's slope function. If you had MSFT returns minus rf in column A and (rm-rf) in column B, you could get the beta with the function "= Slope ( A1:A120,B1:B120)" d) Are these numbers different? If so, why? e) Is Microsoft more or less risky than an average stock on the market? Part III: News Events In this section, we'll take a look at some news events. In the textbook, we saw that there are systematic and non systematic risks. Let's identify examples of how systematic and nonsystematic shocks may affect a stock's return