Why is average return greater in a price-weighted index than an equal-weighted index? (Hint: a complete answer will include a very specific discussion of your numbers. You may want to support your assertions with calculations.)

Why is average return greater for a market-value-weighted index than a price-weighted index? (Hint: a complete answer will include a very specific discussion of your numbers. You may want to support your assertions with calculations.)

Why is average return greater for a market-value-weighted index than an equal-weighted index? (Hint: a complete answer will include a very specific discussion of your numbers. You may want to support your assertions with calculations.)

Price-Welghted Index Return AMZN CMG -0.03351 0.11378 0.03236 0.02999 0.03407 40 401 40 40 40 40 40 40 40 40 011 889 40 70595.24718 Date.Value. Return 9/1/18 392.7170S 4/1/18 437.40168 5/1/18 451.55725 6/1/18465.09569 7/1/18 480.93921 B/1/18 538.07603 9/1/18 592.82415 10/1/18451.32322 11/1/18 469.89729 12/1/18 420.42625 1/1/19485.09093 2/1/19487.53067 3/1/19535.48414 4/1/19562.23528 5/1/19522.13699 6/1/19 564.26618 7/1/19 S70.96821 8/1/19 557.18615 9/1/19 550.53465 10/1/19 547.29343 11/1/19562,04653 12/1/19579.55674 1/1/20 614.31020 2/1/20 565.85654 3/1/20 510.65691 4/1/20 694.53800 5/1/20 711.93202 5/1/20 784,42801 0.04132 0.08709 0.04022 0.04134 0.04198 0.12941 -0.00538 0.19127 0.05405 -0.11209 0.14565 -0.03596 0.08595 0.07598 Equal Weighted Index Shares held in: Dartfolia Value AMON CMG www.WN-MARIA AMZN MAR UAA Www Portfolio Value -0.02669 1166010.37099 161.12460 721.74208 5224.05922 1763.60174 14263.12380 0.10715 1290950.31943 164.85854 609.90251 5507.80771 1942.57443 14537.72882 0.03872 1340936.91620 164.57050 623.43063 5899.60229 203746941 12831 93221 0.02465 1979990.97662 161.66501 637.03595 5682.49440 2225.63326 12224.11901 0.00774 1363353.93989 153.40647 628.75628 5570.72350 2186.93205 13654.02111 0.08813 1483499.75224 147.41317 624.39488 5054.74617 2405 48678 14508.55442 -0.00119 1481728.87530 147.95196 652.00163 5273.82835 2299.91559 13965.49430 0.03250 1433585.53428 179.42135 622.85125 4640.05300 2506.92844 12967.75639 -0.00927 1420297.71340 168,05556 600.28222 5718.71201 2523.75185 11895 29123 -0.12479 1243053.44252 165.52308 575.76758 5637.11868 2332 20789 14069.64947 0.11906 1391052.58935 161.86992 25.31207 6335.45499 2472.83985 13414.20048 0.06020 1474797,45807 179.87200 485.50603 6593.27840 2397 90857 13080 24420 0.02661 1514041.00990 170.04532 426.30429 7211.02240 2457.29458 14323.94590 0.03306 1564101.07268 162.37579 454.65413 7993.00214 2:27.71037 13547.96551 -0.07076 1477 139.38177 160.73474 430.97094 9574.47089 2317.76002 12474.90740 0.08935 1549201.51965 163.62241 422.77085 10076.86935 2233.51434 12222.49720 0.00237 1552867.33003 166.36854 390.39817 9719.29179 2258.60207 13462.22219 -0.08128 1426648.00086 160.63233 340.31822 10205.44254 2289.00574 15332.05722 0.04377 1489085.5B002 171.56253 354.34593 9047.00219 2412.75631 14935.56204 0.01374 1509546.79625 169.99096 397.97853 9601.61969 2402.77521 1462030795 0.02983 1553827.74960 172.57082 381.81339 8327.39012 2230.84244 16451.32597 0.07272 1666816,45850 180.40701 398.23117 8249.82926 2210.26217 15433.48573 -0.02356 1627553.06723 162.04878 375.54872 9944.96674 2333.39969 16130.35746 a. 12795 1419287.72030 150.68748 366.94012 9285.90297 2298.35262 20004.05525 -0.28444 1015587.41655 104.17777 310.38734 13411.91670 2715.11147 2205401555 0.23969 1259017.49672 101.77991 286.61260 13408.06634 2768.99701 24165.40301 0.03966 1209084.22184 99.00909 240.87503 14991.74578 2732.39372 27636.21078 0.04400 1262282.45576 91.50886 239.89556 16298.03055 294478577 25919 55782 43 40 Market Value-Weighted Index Shares held in: JWN MAR UAA Portfolio Value Return 5 10 S 5 40 61269.84971 5 10 5 5 40 65605.57758 5 5 10 5 5 40 1 69284.42373 5 10 5 5 40 72148.98754 5 10 5 40 75177.56379 5 10 5 40 84905.98593 5 10 5 5 40 84449.26452 5 10 5 5 40 69296.23900 5 10 5 49 7 71987.54345 5 10 5 40 63918.56756 5 5 10 5 40 73228.28612 5 10 5 40 5 10 5 40 76663.21548 5 5 10 5 5 40 22497.91662 5 10 5 40 75128.18781 5 10 40 81424.69308 5 10 5 40 20578.72637 5 10 5 40 1 75890.94796 5 10 5 5 40 75382.71196 5 10 5 40 76762.18252 5 10 5 40 77926.90721 5 10 5 5 40 80121.35978 5 10 5 5 40 86551.20576 5 10 5 40 80745.60290 5 5 10 5 40 82154.69448 5 10 5 40 104412.04996 5 10 5 40 103668.15454 5 10 5 40 115587.75266 -0.00976 0.15295 0.04115 -0.10528 0.15381 0.00503 0.09836 0.04999 -0.07132 0.08069 0.0118 -0.02414 -0.01194 -0.00600 0.02707 0.03115 0.05997 0.07887 -0.01453 0.28462 0.02504 0.10183 40 -0.07710 0.05957 0.01039 40 40 40 40 40 40 40 40 40 -0.04577 -0.01952 0.01830 0.01517 40 10 0.02816 0.09025 0.05708 0.01745 0.27092 0.00712 0.12452 40 40 40 Arithmetic Geometric Stdev Price weighted 0.02048 0.01800 0.07285 Equal weighted 0.00622 0.00359 0.07172 Arithmetic Geometric Stdev 0.03031 0.02740 0.07855 Price-Welghted Index Return AMZN CMG -0.03351 0.11378 0.03236 0.02999 0.03407 40 401 40 40 40 40 40 40 40 40 011 889 40 70595.24718 Date.Value. Return 9/1/18 392.7170S 4/1/18 437.40168 5/1/18 451.55725 6/1/18465.09569 7/1/18 480.93921 B/1/18 538.07603 9/1/18 592.82415 10/1/18451.32322 11/1/18 469.89729 12/1/18 420.42625 1/1/19485.09093 2/1/19487.53067 3/1/19535.48414 4/1/19562.23528 5/1/19522.13699 6/1/19 564.26618 7/1/19 S70.96821 8/1/19 557.18615 9/1/19 550.53465 10/1/19 547.29343 11/1/19562,04653 12/1/19579.55674 1/1/20 614.31020 2/1/20 565.85654 3/1/20 510.65691 4/1/20 694.53800 5/1/20 711.93202 5/1/20 784,42801 0.04132 0.08709 0.04022 0.04134 0.04198 0.12941 -0.00538 0.19127 0.05405 -0.11209 0.14565 -0.03596 0.08595 0.07598 Equal Weighted Index Shares held in: Dartfolia Value AMON CMG www.WN-MARIA AMZN MAR UAA Www Portfolio Value -0.02669 1166010.37099 161.12460 721.74208 5224.05922 1763.60174 14263.12380 0.10715 1290950.31943 164.85854 609.90251 5507.80771 1942.57443 14537.72882 0.03872 1340936.91620 164.57050 623.43063 5899.60229 203746941 12831 93221 0.02465 1979990.97662 161.66501 637.03595 5682.49440 2225.63326 12224.11901 0.00774 1363353.93989 153.40647 628.75628 5570.72350 2186.93205 13654.02111 0.08813 1483499.75224 147.41317 624.39488 5054.74617 2405 48678 14508.55442 -0.00119 1481728.87530 147.95196 652.00163 5273.82835 2299.91559 13965.49430 0.03250 1433585.53428 179.42135 622.85125 4640.05300 2506.92844 12967.75639 -0.00927 1420297.71340 168,05556 600.28222 5718.71201 2523.75185 11895 29123 -0.12479 1243053.44252 165.52308 575.76758 5637.11868 2332 20789 14069.64947 0.11906 1391052.58935 161.86992 25.31207 6335.45499 2472.83985 13414.20048 0.06020 1474797,45807 179.87200 485.50603 6593.27840 2397 90857 13080 24420 0.02661 1514041.00990 170.04532 426.30429 7211.02240 2457.29458 14323.94590 0.03306 1564101.07268 162.37579 454.65413 7993.00214 2:27.71037 13547.96551 -0.07076 1477 139.38177 160.73474 430.97094 9574.47089 2317.76002 12474.90740 0.08935 1549201.51965 163.62241 422.77085 10076.86935 2233.51434 12222.49720 0.00237 1552867.33003 166.36854 390.39817 9719.29179 2258.60207 13462.22219 -0.08128 1426648.00086 160.63233 340.31822 10205.44254 2289.00574 15332.05722 0.04377 1489085.5B002 171.56253 354.34593 9047.00219 2412.75631 14935.56204 0.01374 1509546.79625 169.99096 397.97853 9601.61969 2402.77521 1462030795 0.02983 1553827.74960 172.57082 381.81339 8327.39012 2230.84244 16451.32597 0.07272 1666816,45850 180.40701 398.23117 8249.82926 2210.26217 15433.48573 -0.02356 1627553.06723 162.04878 375.54872 9944.96674 2333.39969 16130.35746 a. 12795 1419287.72030 150.68748 366.94012 9285.90297 2298.35262 20004.05525 -0.28444 1015587.41655 104.17777 310.38734 13411.91670 2715.11147 2205401555 0.23969 1259017.49672 101.77991 286.61260 13408.06634 2768.99701 24165.40301 0.03966 1209084.22184 99.00909 240.87503 14991.74578 2732.39372 27636.21078 0.04400 1262282.45576 91.50886 239.89556 16298.03055 294478577 25919 55782 43 40 Market Value-Weighted Index Shares held in: JWN MAR UAA Portfolio Value Return 5 10 S 5 40 61269.84971 5 10 5 5 40 65605.57758 5 5 10 5 5 40 1 69284.42373 5 10 5 5 40 72148.98754 5 10 5 40 75177.56379 5 10 5 40 84905.98593 5 10 5 5 40 84449.26452 5 10 5 5 40 69296.23900 5 10 5 49 7 71987.54345 5 10 5 40 63918.56756 5 5 10 5 40 73228.28612 5 10 5 40 5 10 5 40 76663.21548 5 5 10 5 5 40 22497.91662 5 10 5 40 75128.18781 5 10 40 81424.69308 5 10 5 40 20578.72637 5 10 5 40 1 75890.94796 5 10 5 5 40 75382.71196 5 10 5 40 76762.18252 5 10 5 40 77926.90721 5 10 5 5 40 80121.35978 5 10 5 5 40 86551.20576 5 10 5 40 80745.60290 5 5 10 5 40 82154.69448 5 10 5 40 104412.04996 5 10 5 40 103668.15454 5 10 5 40 115587.75266 -0.00976 0.15295 0.04115 -0.10528 0.15381 0.00503 0.09836 0.04999 -0.07132 0.08069 0.0118 -0.02414 -0.01194 -0.00600 0.02707 0.03115 0.05997 0.07887 -0.01453 0.28462 0.02504 0.10183 40 -0.07710 0.05957 0.01039 40 40 40 40 40 40 40 40 40 -0.04577 -0.01952 0.01830 0.01517 40 10 0.02816 0.09025 0.05708 0.01745 0.27092 0.00712 0.12452 40 40 40 Arithmetic Geometric Stdev Price weighted 0.02048 0.01800 0.07285 Equal weighted 0.00622 0.00359 0.07172 Arithmetic Geometric Stdev 0.03031 0.02740 0.07855