The following table shows the annual returns (in percent) for Fidelitys Electronic and Utilities funds. a. Calculate

The following table shows the annual returns (in percent) for Fidelity’s Electronic and Utilities funds.

a. Calculate the sample mean, the sample variance, and the sample standard deviation for each fund.
b. Which fund had the higher average return?
c. Which fund was riskier over this time period? Use both the standard deviation and the coefficient of variation in your explanation.
d. Given a risk-free rate of 4%, which fund has the higher Sharpe ratio? What does this ratioimply?

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Year 2005 2006 2007 2008 2009 Electronic 13.23 1.97 2.77 50.00 81.65 Utilities 9.36 32.33 21.03 35.21 14.71