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Year 2012 2013 2014 2015 2016 2017 Nominal Return (%) 0.1 -17.0 - 15.0 -41.5 66.3 27.0 Inflation (%) 5.9 6.0 6.5 10.8 6.4 3.0

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Year 2012 2013 2014 2015 2016 2017 Nominal Return (%) 0.1 -17.0 - 15.0 -41.5 66.3 27.0 Inflation (%) 5.9 6.0 6.5 10.8 6.4 3.0 a. What was the standard deviation of the market returns? (Use decimals, not percents, in your calculations. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Standard deviation % b. Calculate the average real return. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places) Average real return %

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