Use the following information to answer three questions below (15 to 17): The output below is generated from regressing Fund As excess returns on markets excess returns (S&P 500). Coefficient Estimate P-value Intercept -0.01 0.02 Market index 1.09 0.01 Adj R-sq 0.95 Observations 60 15. Is Fund A more or less risky than the S&P 500? 16. How did Fund A perform relative to the market on a risk-adjusted basis? (assuming CAPM is true) 17. How well does CAPM explain the returns on Fund A?