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The following table shows the nominal returns on Brazilian stocks and the rate of inflation. Year 2012 2013 2014 2015 2016 2017 Nominal Return (8)

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The following table shows the nominal returns on Brazilian stocks and the rate of inflation. Year 2012 2013 2014 2015 2016 2017 Nominal Return (8) 0.5 - 16.0 - 14.0 -43.1 67.9 28.6 Inflation (8) 7.5 7.6 8.1 12.4 8.0 4.6 a. What was the standard deviation of the market returns? (Use decimals, not percents, in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) 5 Standard deviation b. Calculate the average real return. (A negative answer should be indicated by a minus calculations. Enter your answer as a percent rounded to 2 decimal places) % Average real return SO

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