You are an analyst for a large public pensian fund and you have been assigned the task of evaluating two different external portfolio managers ( Y and Z ). You consider the following histoncal average retum, standerd deviabion, and CAPM beta estimates for these two managers over the past five yoars: Additionaliy, your estimate for the risk premium fXr the maeket portfolio is 5.00 percent and the risk-free rate is currently 3,50 percent. a. For both Manager Y and Manager Z, calculate the expected return using the CApM. Mound your answers to two decimal places. Manager Y: Manager Z: b. Calculate esch fund manaoer's average "aloha" (Le, actual return minus expected return) over the five-year holding period. Round your answers to two decimal ploces. Manoger Y Maneger Z: Choose the correct sML groph. The correct graph is A. Security market Line B. Security market Line C. Security market Line D. Securitu market 1 ine c. Explain whether you can conclude from the information in Part b if: 1. either manager outperformed the other on a risk-adjusted basis. outperformed the on a risk-adjusted basis. 2. either manager outperformed market expectations in general. Manager Y market expectations in general. Manager Z market expectations in general