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The following table shows hypothetical monthly exchange rates for the Canadian dollar and the euro, as well as the standard deviation of the percentage changes

The following table shows hypothetical monthly exchange rates for the Canadian dollar and the euro, as well as the standard deviation of the percentage changes for each currency.

Use the table to select the percent change from March 1 to April 1 in the Canadian dollar exchange rate and the euro exchange rate.

Month

Value of the Canadian Dollar

Monthly Percent Change in Canadian Dollar Value

Value of Euro

Monthly Percent Change in Euro Value

(US Dollars per Canadian Dollar)

(US Dollars per euro)

January 1 $0.79 $1.27
February 1 0.8 1.27% 1.29 1.57%
March 1 0.78 -2.50% 1.31 1.55%
April 1 0.77 (-1.02%, -1.15%, -0.90%, -1.28%) 1.28 (-2.29%, -2.06%, -1.83%, -1.60%)
May 1 0.78 1.30% 1.26 -1.56%
June 1 0.78 0.00% 1.28 1.59%
July 1 0.79 1.28% 1.29 0.78%
Standard Deviation 1.60% 1.75%

The percentage change in the Canadian dollar from March 1 to April 1 represents (No change, an appreciation, a depreciation) in the value of the Canadian dollar.

In this example, the value of the (Canadian dollar, Euro) was more volatile over the entire time period.

The bold is the answer choices, please explain each answer.

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