Use the following to answer questions 6 and 7:

You are analyzing the returns of a mutual fund portfolio for the past 5 years.

Year	Return
2014	-30%
2015	-25%
2016	40%
2017	-10%
2018	15%

Question 6: What is the standard deviation of the returns?

Question 7: Use Excel to compute the VaR at the 1% level (you can write the Excel formula as your work).