Quarter	Excess Returns Markese	Excess Returns Market
1	0.04	0.05
2	0.05	0.1
3	-0.04	-0.06
4	-0.05	-0.1
5	0.02	0.02
6	0	-0.03
7	0.02	0.07
8	-0.01	-0.01
9	-0.02	-0.08
10	0.04	0
11	0.07	0.13
12	-0.01	0.04
13	0.01	-0.01
14	-0.06	-0.09
15	-0.06	-0.14
16	-0.02	-0.04
17	0.07	0.15
18	0.02	0.06
19	0.04	0.11
20	0.03	0.05
21	0.01	0.03
22	-0.01	0.01
23	-0.01	-0.03
24	0.02	0.04

On the basis of this information, graph the relationship between the two sets of excess

returns and draw a characteristic line. What is the approximate beta? What can you say

about the systematic risk of the stock, based on past experience?