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The following are annual rates of return on AT&T Inc. over five years. Year Return (%) 2014 (-4.23) 2015 (-1.2) 2016 (9.54) 2017 (16.92) 2018

The following are annual rates of return on AT&T Inc. over five years.

Year Return (%)

2014 (-4.23)

2015 (-1.2)

2016 (9.54)

2017 (16.92)

2018 (-11.17)

a. What is the arithmetic average return for AT&T Inc.? 1.97

b. What is the geometric average return for AT&T Inc.? 1.48

Enter your answers as a percent rounded to two decimal places. Do not put the % sign.

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