Refer to Table 12.1 and look at the period from 1970 through 1975.

a.	Calculate the arithmetic average returns for large-company stocks and T-bills over this period. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
b.	Calculate the standard deviation of the returns for large-company stocks and T-bills over this period. (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
c-1.	Calculate the observed risk premium in each year for the large-company stocks versus the T-bills. What was the average risk premium over this period? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
c-2.	Calculate the observed risk premium in each year for the large-company stocks versus the T-bills. What was the standard deviation of the risk premium over this period? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

U.S. Large- Company Stocks Long-Term Government Bonds Treasury Bills Consumer Price Index Year 1970 3.94 18.92 6.50 5.57 1971 14.30 11.24 4.36 3.27 1972 18.99 2.39 4.23 3.41 1973 14.69 3.30 7.29 8.71 1974 -26.47 4.00 7.99 12.34 1975 37.23 5.52 5.87 6.94