Suppose we have the following Treasury bill returns and inflation rates over an eight year period:

Year	Treasury Bills	Inflation
1	7.70%	9.20%
2	8.46	12.88
3	6.31	7.41
4	5.48	5.24
5	5.89	7.17
6	8.11	9.52
7	11.10	13.84
8	12.70	13.19

a.	Calculate the average return for Treasury bills and the average annual inflation rate (consumer price index) for this period.(Round your answers to 2 decimal places. (e.g., 32.16))

	Average return
Treasury bills	%
Inflation	%

b.	Calculate the standard deviation of Treasury bill returns and inflation over this period.(Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16))

	Standard deviation
Treasury bills	%
Inflation	%

c.	What was the average real return for Treasury bills over this period?(Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))