Use the data in the spreadsheet provided to estimate the beta of Shoe Company stock using linear regression.

The beta of Shoe Company stock is _____(Round to four decimal places.)

Returns (%)

Value Weighted Market Shoe Company Jan 2004 2.3333 1.7808 Feb 2004 1.5837 5.1509 Mar 2004 -1.0318 6.5499 Apr 2004 -2.4013 -7.6671 May 2004 1.4115 -1.1226 Jun 2004 2.1296 6.7056 Jul 2004 -3.7812 -4.0965 Aug 2004 0.2772 3.5401 Sep 2004 2.0471 4.8069 Oct 2004 1.7963 3.1572 Nov 2004 4.8058 4.1678 Dec 2004 3.5783 7.4648 Jan 2005 -2.6398 -4.4455 Feb 2005 2.2216 0.3568 Mar 2005 -1.6581 -3.8967 Apr 2005 -2.5194 -7.8555 May 2005 3.7728 7.0621 Jun 2005 1.1029 5.6644 Jul 2005 4.3595 -3.1992 Aug 2005 -0.5901 -5.8097 Sep 2005 1.0025 3.8494 Oct 2005 -2.0823 2.9825 Nov 2005 4.0228 1.4527 Dec 2005 0.3434 2.1732 Jan 2006 4.0448 -6.7187 Feb 2006 -0.1602 7.2317 Mar 2006 1.9631 -1.5667 Apr 2006 1.2955 -3.8852 May 2006 -3.1273 -1.8275 Jun 2006 -0.0317 1.2485 Jul 2006 -0.1984 -2.4599 Aug 2006 2.5383 2.2045 Sep 2006 1.9202 8.8554 Oct 2006 3.7194 4.8478 Nov 2006 2.3739 7.6369 Dec 2006 1.0958 0.4587 Jan 2007 1.9435 -0.2048 Feb 2007 -1.3889 5.7967 Mar 2007 1.2946 2.0232 Apr 2007 3.9773 1.3791 May 2007 3.8842 5.3019 Jun 2007 -1.4505 3.0392 Jul 2007 -3.1452 -3.1961 Aug 2007 1.3349 -0.1936 Sep 2007 4.0699 4.4363 Oct 2007 2.5865 12.9559 Nov 2007 -4.9499 -0.9078 Dec 2007 -0.4337 -1.7939 Jan 2008 -6.2174 -4.5676 Feb 2008 -2.2023 -1.8304 Mar 2008 -1.0493 13.3304 Apr 2008 5.1419 -1.7697 May 2008 2.3858 2.3835 Jun 2008 -7.8898 -12.4526 Jul 2008 -1.301 -1.5471 Aug 2008 1.1731 3.2304 Sep 2008 -9.8712 10.7353 Oct 2008 -18.4798 -13.8549 Nov 2008 -8.5206 -7.6007 Dec 2008 2.1464 -3.7565