The accompanying table shows a portion of the annual returns (in %) for a technology mutual fund and an energy mutual fund from 1982 through 2018.

a- Which fund had the higher reward over this time period?

b- Which fund was riskier over this time period?

c-Given a risk-free rate of 2%, calculate the Sharpe ratio for each fund? What does this ratio imply. (Round intermediate calculations to at least 4 decimal places and final answers to 2 decimal places.)

c-2. Over this time period, the Sharpe ratio implies that the: multiple choice

• Technology fund had a higher reward per unit of risk.
• Energy fund had a higher reward per unit of risk.
• Technology fund had the higher relative dispersion.
• Energy fund had the lower relative dispersion.

Year	Technology	Energy
1982	56.32	-12.16
1983	52.47	20.27
1984	-16.89	2.37
1985	7.54	18.00
1986	-7.47	5.49
1987	-11.78	-1.80
1988	-2.70	15.94
1989	16.99	42.83
1990	10.50	-4.49
1991	58.97	0.04
1992	8.72	-2.39
1993	28.65	19.15
1994	11.13	0.41
1995	43.81	21.38
1996	15.82	32.47
1997	10.33	10.28
1998	74.16	-14.74
1999	131.75	34.23
2000	-32.30	31.77
2001	-31.70	-11.97
2002	-37.79	-11.48
2003	59.39	22.87
2004	0.43	31.70
2005	4.92	52.02
2006	7.51	14.25
2007	19.78	45.53
2008	-51.09	-54.00
2009	90.29	47.09
2010	26.69	18.99
2011	-9.56	-4.85
2012	17.16	4.64
2013	31.76	24.21
2014	10.65	-12.64
2015	7.40	-20.53
2016	11.94	33.84
2017	49.86	-2.64
2018	-8.79	-24.92