This question has 3 parts. Each part is independent. a. Using the following returns, calculate the arithmetic average returns, the variances, and the standard deviations for the stock Alpha. (2 marks) Returns Stock Alpha Year 1 1 12 96 2 23 % 3 10 % 4 - 13 % 5 11 96 b. Suppose you buy a stock for $225 one year ago. Today it sells for $275, and it also pays you dividend $25 per year. What is the risk premium? Assume that the treasury bill rate 4.8%. (2 marks) c. Suppose your cousin invests in the stock market and doubles her money in a single year while the market on average, earned a return of only about 15%. Is your cousin's performance a violation of market efficiency? (2 marks)