Returns on two stocks, A and B in a five business day week are as follows:

	Returns
Day	Stock A	Stock B
01	20%	- 23 %
02	3 %	9%
03	- 18 %	7 %
04	11 %	31 %
05	7%	14 %

a) Calculate average returns, variances, and standard deviations for stock A and B.

b) Explain which stock is more risky referring to their variances and standard deviations.

c) Calculate one-day holding period return, two day holding period return, three-day holding period return, four day holding period return and five day holding period return for stock A and B and fill up the following table.

	Returns (in %)
Day	Stock A	Stock B
1 - day Holding Period Return
3 - day Holding Period Return
5 - day Holding Period Return

Please detailed answers. Consider 4 decimal places where applicable. When asked to