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

The beta of Nike stock is ___?_____

Returns (%)

S\&P 500 Nike

Jan 2004 2.3064 1.7529

Feb 2004 1.5467 5.1536

Mar 2004 -1.0685 6.5802

Apr 2004 -2.4230 -7.6024

May 2004 1.4127 -1.1119

Jun 2004 2.1563 6.7463

Jul 2004 -3.7681 -4.0132

Aug 2004 0.2714 3.5758

Sep 2004 2.0555 4.8998

Oct 2004 1.7810 3.1853

Nov 2004 4.8243 4.1200

Dec 2004 3.5180 7.4179

Jan 2005 -2.6557 -4.4768

Feb 2005 2.2695 0.3694

Mar 2005 -1.6937 -3.8988

Apr 2005 -2.5182 -7.8022

May 2005 3.7916 7.0173

Jun 2005 1.1531 5.6569

Jul 2005 4.3331 -3.2333

Aug 2005 -0.5943 -5.8353

Sep 2005 1.0609 3.8271

Oct 2005 -2.0784 2.9016

Nov 2005 4.0406 1.4872

Dec 2005 0.3476 2.1102

Jan 2006 4.0112 -6.7289

Feb 2006 -0.1644 7.2020

Mar 2006 1.9060 -1.5787

Apr 2006 1.2968 -3.8308

May 2006 -3.1042 -1.8695

Jun 2006 -0.0396 1.2452

Jul 2006 -0.1902 -2.4691

Aug 2006 2.5085 2.2279

Sep 2006 1.9452 8.8782

Oct 2006 3.7086 4.8619

Nov 2006 2.3716 7.6948

Dec 2006 1.0823 0.4548

Jan 2007 1.9438 -0.2222

Feb 2007 -1.3998 5.7282

Mar 2007 1.2949 2.0676

Apr 2007 3.9893 1.3740

May 2007 3.8894 5.3658

Jun 2007 -1.4758 3.0396

Jul 2007 -3.1753 -3.1566

Aug 2007 1.1623 -0.1949

Sep 2007 4.0903 4.4462

Oct 2007 2.5842 12.9560

Nov 2007 -4.9279 -0.9206

Dec 2007 -0.4342 -1.7974

Jan 2008 -6.2305 -4.5299

Feb 2008 -2.2040 -1.8425

Mar 2008 -1.0470 13.3389

Apr 2008 5.1144 -1.7647

May 2008 2.3825 2.3503

Jun 2008 -7.8625 -12.4762

Jul 2008 -1.315 -1.5601

Aug 2008 1.1042 3.2890

Sep 2008 -9.8060 10.7573

Oct 2008 -18.4726 -13.8565

Nov 2008 -8.5206 -7.6002

Dec 2008 2.1482 -3.7559