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You observe an investment that has the following historical returns: Year Return 1 27.66% 2 0.90% 3 21.81% 4 14.17% 5 15.33% 6 9.14% 7

You observe an investment that has the following historical returns:
Year Return
1 27.66%
2 0.90%
3 21.81%
4 14.17%
5 15.33%
6 9.14%
7 -8.62%
8 12.76%
9 42.87%
10 -12.67%
a. What was the average (arithmetic mean) return over the 10 year period?
b. What was the investment's variance over the 10 year period?

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