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

Use the data in the spreadsheet provided

Returns (%) Value Weighted Market Shoe Company Jan 2004 2.3494 1.7273 Feb 2004 1.5773 5.1799 Mar 2004 -1.0992 6.5091 Apr 2004 -2.4107 -7.6648 May 2004 1.4409 -1.1867 Jun 2004 2.1163 6.7177 Jul 2004 -3.7643 -4.0933 Aug 2004 0.2789 3.5696 Sep 2004 2.0441 4.8441 Oct 2004 1.7936 3.1355 Nov 2004 4.8795 4.1448 Dec 2004 3.5298 7.4344 Jan 2005 -2.6469 -4.4515 Feb 2005 2.2066 0.3247 Mar 2005 -1.6644 -3.8778 Apr 2005 -2.5238 -7.8961 May 2005 3.7779 7.0055 Jun 2005 1.1338 5.6601 Jul 2005 4.3449 -3.2043 Aug 2005 -0.5827 -5.8073 Sep 2005 1.0897 3.8069 Oct 2005 -2.0992 2.9025 Nov 2005 4.0473 1.4134 Dec 2005 0.3967 2.1623 Jan 2006 4.0115 -6.7534 Feb 2006 -0.1641 7.2523 Mar 2006 1.9117 -1.5578 Apr 2006 1.2979 -3.8186 May 2006 -3.1063 -1.8676 Jun 2006 -0.0317 1.2983 Jul 2006 -0.1996 -2.4191 Aug 2006 2.5025 2.2627 Sep 2006 1.9366 8.8708 Oct 2006 3.7357 4.8447 Nov 2006 2.3612 7.6094 Dec 2006 1.0792 0.4519 Jan 2007 1.9427 -0.2036 Feb 2007 -1.3828 5.7328 Mar 2007 1.2912 2.0205 Apr 2007 3.9094 1.3766 May 2007 3.8873 5.3645 Jun 2007 -1.4811 3.0151 Jul 2007 -3.1329 -3.1429 Aug 2007 1.3993 -0.1959 Sep 2007 4.0547 4.4577 Oct 2007 2.5806 12.9483 Nov 2007 -4.9407 -0.9087 Dec 2007 -0.4361 -1.7634 Jan 2008 -6.2013 -4.5285 Feb 2008 -2.2021 -1.8901 Mar 2008 -1.0491 13.3089 Apr 2008 5.1379 -1.7942 May 2008 2.3806 2.3683 Jun 2008 -7.8575 -12.4876 Jul 2008 -1.319 -1.5335 Aug 2008 1.1771 3.2729 Sep 2008 -9.8258 10.7401 Oct 2008 -18.4743 -13.8607 Nov 2008 -8.5296 -7.6036 Dec 2008 2.1475 -3.7512