Computing Beta in Excel containing daily prices/returns for Microsoft stock (MFST), the S&P 500 Index (^SPX), gold (^GC), and the risk-free rate, represented by the U.S. government 10-year bond (^TNX) a. Use the data to compute daily returns for Microsoft, the S&P index, and gold. Compute returns from the previous trading day's price to the current day's (You will lose one observation). The risk-free rate (^TNX) is already in daily percentage terms. b. Use the given risk-free rate (^TNX) to compute excess returns for MSFT and ^GC and the market risk premium for ^SPX. c. Use the "=slope" and "=intercept" formulas in excel to compute the beta and alpha of MSFT and ^GC. d. Interpret alpha and beta for each asset. Do these beta make sense to you? Why or why not?

Date	^SPX Price	MSFT Price	^GC Price	^TNX daily
9/3/2021	4535.43264	301.14	1831.5	0.00360%
9/7/2021	4520.02775	300.18	1796.3	0.00373%
9/8/2021	4514.06853	300.21	1791.2	0.00363%
9/9/2021	4493.2843	297.25	1797.8	0.00354%
9/10/2021	4458.57985	295.71	1789.9	0.00365%
9/13/2021	4468.7263	296.99	1792.3	0.00360%
9/14/2021	4443.04986	299.79	1805	0.00348%
9/15/2021	4480.70149	304.82	1792.6	0.00355%
9/16/2021	4473.75275	305.22	1754.6	0.00362%
9/17/2021	4432.98748	299.87	1749.4	0.00373%
9/20/2021	4357.72787	294.3	1761.8	0.00356%
9/21/2021	4354.18886	294.8	1776.1	0.00360%
9/22/2021	4395.63714	298.58	1776.7	0.00364%
9/23/2021	4448.98405	299.56	1747.7	0.00384%
9/24/2021	4455.47792	299.35	1749.7	0.00397%
9/27/2021	4443.1104	294.17	1750	0.00404%
9/28/2021	4352.63435	283.52	1737.5	0.00417%
9/29/2021	4359.46106	284	1722.9	0.00419%
9/30/2021	4307.53875	281.92	1757	0.00416%
10/1/2021	4357.03888	289.1	1758.4	0.00398%
10/4/2021	4300.45901	283.11	1767.6	0.00403%
10/5/2021	4345.71622	288.76	1760.9	0.00416%
10/6/2021	4363.54516	293.11	1761.8	0.00414%
10/7/2021	4399.76331	294.85	1759.2	0.00427%
10/8/2021	4391.33805	294.85	1757.4	0.00436%
10/11/2021	4361.19049	294.23	1755.7	0.00439%
10/12/2021	4350.64597	292.88	1759.3	0.00430%
10/13/2021	4363.80451	296.31	1794.7	0.00421%
10/14/2021	4438.26438	302.75	1797.9	0.00413%
10/15/2021	4471.36845	304.21	1768.3	0.00428%
10/18/2021	4486.46049	307.29	1765.7	0.00431%
10/19/2021	4519.63061	308.23	1770.5	0.00444%
10/20/2021	4536.19214	307.41	1784.9	0.00445%
10/21/2021	4549.78135	310.76	1781.9	0.00455%
10/22/2021	4544.89825	309.16	1796.3	0.00450%
10/25/2021	4566.478	308.13	1806.8	0.00444%
10/26/2021	4574.78884	310.11	1793.4	0.00440%
10/27/2021	4551.68114	323.17	1798.8	0.00416%
10/28/2021	4596.41508	324.35	1802.6	0.00426%
10/29/2021	4605.37665	331.62	1783.9	0.00423%
11/1/2021	4613.67301	329.37	1795.8	0.00428%
11/2/2021	4630.65336	333.13	1789.4	0.00421%
11/3/2021	4660.56958	334	1763.9	0.00429%
11/4/2021	4680.05584	336.44	1793.5	0.00414%
11/5/2021	4697.52681	336.06	1816.8	0.00395%
11/8/2021	4701.70204	336.99	1828	0.00407%
11/9/2021	4685.25118	335.95	1830.8	0.00390%
11/10/2021	4646.70767	330.8	1848.3	0.00424%
11/11/2021	4649.2692	332.43	1863.9	0.00424%
11/12/2021	4682.8474	336.72	1868.5	0.00430%
11/15/2021	4682.80354	336.07	1866.6	0.00441%
11/16/2021	4700.89713	339.51	1854.1	0.00444%
11/17/2021	4688.6707	339.12	1870.2	0.00436%
11/18/2021	4704.54194	341.27	1861.4	0.00432%
11/19/2021	4697.95511	343.11	1851.6	0.00418%
11/22/2021	4682.94395	339.83	1806.3	0.00442%
11/23/2021	4690.69805	337.68	1783.8	0.00453%
11/24/2021	4701.46485	337.91	1784.3	0.00447%
11/26/2021	4594.61828	329.68	1788.1	0.00403%
11/29/2021	4655.27019	336.63	1785.2	0.00416%
11/30/2021	4567.00149	330.59	1776.5	0.00393%
12/1/2021	4513.03616	330.08	1784.3	0.00390%
12/2/2021	4577.10053	329.49	1762.7	0.00394%
12/3/2021	4538.42786	323.01	1783.9	0.00366%
12/6/2021	4591.6718	326.19	1779.5	0.00390%
12/7/2021	4686.74546	334.92	1784.7	0.00403%
12/8/2021	4701.20786	334.97	1785.5	0.00410%
12/9/2021	4667.45395	333.1	1776.7	0.00404%
12/10/2021	4712.02414	342.54	1784.8	0.00405%
12/13/2021	4668.97209	339.4	1788.3	0.00387%
12/14/2021	4634.08762	328.34	1772.3	0.00391%
12/15/2021	4709.85391	334.65	1764.5	0.00398%
12/16/2021	4668.6712	324.9	1798.2	0.00387%
12/17/2021	4620.63899	323.8	1804.9	0.00381%
12/20/2021	4568.01724	319.91	1794.6	0.00386%
12/21/2021	4649.22664	327.29	1788.7	0.00404%
12/22/2021	4696.56157	333.2	1802.2	0.00396%
12/23/2021	4725.78824	334.69	1811.7	0.00406%
12/27/2021	4791.19195	342.45	1808.8	0.00403%
12/28/2021	4786.35412	341.25	1810.9	0.00403%
12/29/2021	4793.05812	341.95	1805.8	0.00420%
12/30/2021	4778.72691	339.32	1814.1	0.00412%
12/31/2021	4766.18297	336.32	1828.6	0.00411%
1/3/2022	4796.56125	334.75	1800.1	0.00442%
1/4/2022	4793.53722	329.01	1814.6	0.00453%
1/5/2022	4700.57837	316.38	1825.1	0.00463%
1/6/2022	4696.05383	313.88	1789.2	0.00471%
1/7/2022	4677.02766	314.04	1797.4	0.00481%
1/10/2022	4670.29038	314.27	1798.8	0.00483%
1/11/2022	4713.06732	314.98	1818.5	0.00474%
1/12/2022	4726.34572	318.27	1827.3	0.00469%
1/13/2022	4659.02549	304.8	1821.4	0.00465%
1/14/2022	4662.85412	310.2	1816.5	0.00481%
1/18/2022	4577.1084	302.65	1812.4	0.00506%
1/19/2022	4532.75962	303.33	1843.2	0.00496%
1/20/2022	4482.7276	301.6	1842.6	0.00498%
1/21/2022	4397.93917	296.03	1831.8	0.00475%
1/24/2022	4410.12743	296.37	1841.7	0.00471%
1/25/2022	4356.45388	288.49	1852.5	0.00484%
1/26/2022	4349.92864	296.71	1829.7	0.00502%
1/27/2022	4326.51368	299.84	1795	0.00491%
1/28/2022	4431.84912	308.26	1786.6	0.00484%
1/31/2022	4515.54758	310.98	1796.4	0.00484%
2/1/2022	4546.53903	308.76	1801.5	0.00489%
2/2/2022	4589.37656	313.46	1810.3	0.00480%
2/3/2022	4477.44195	301.25	1804.1	0.00496%
2/4/2022	4500.53146	305.94	1807.8	0.00524%
2/7/2022	4483.86529	300.95	1821.8	0.00520%
2/8/2022	4521.53887	304.56	1827.9	0.00530%
2/9/2022	4587.17889	311.21	1836.6	0.00523%
2/10/2022	4504.08479	302.38	1837.4	0.00551%
2/11/2022	4418.63652	295.04	1842.1	0.00530%
2/14/2022	4401.66698	295	1869.4	0.00541%
2/15/2022	4471.07425	300.47	1856.2	0.00555%
2/16/2022	4475.0111	299.5	1871.5	0.00555%
2/17/2022	4380.25856	290.73	1902	0.00535%
2/18/2022	4348.8692	287.93	1899.8	0.00524%
2/22/2022	4304.7576	287.72	1907.4	0.00529%
2/23/2022	4225.50488	280.27	1910.4	0.00536%
2/24/2022	4288.69601	294.59	1926.3	0.00534%
2/25/2022	4384.65449	297.31	1887.6	0.00539%
2/28/2022	4373.93915	298.79	1900.7	0.00499%
3/1/2022	4306.25889	294.95	1943.8	0.00464%
3/2/2022	4386.54409	300.19	1922.3	0.00506%
3/3/2022	4363.48675	295.92	1935.9	0.00501%
3/4/2022	4328.87	289.86	1935.9	0.00470%

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