9. Using the data in above,

a. What was the average annual return of Microsoft stock from 20022014?

b. What was the annual volatility for Microsoft stock from 20022014?

10. Using the data above,

a. What was the average dividend yield for the SP500 from 20022014?

b. What was the volatility of the dividend yield?

c. What was the average annual return of the SP500 from 20022014 excluding dividends (i.e., from capital gains only)?

d. What was the volatility of the S&P 500 returns from capital gains? e. Were dividends or capital gains a more important component of the S&P 500s average returns during this period? Which were the more important source of volatility?

e. Were dividends or capital gains a more important component of the S&P 500s average returns during this period? Which were the more important source of volatility?

6020875110100 1113441000000 h 8845558 25 26805040645 -1246 179985 511047 &I 22 10 4 5 5 3 2 5 2 6 33 221 1 321 131 m 9757 30856659 58911881 fo id 400. 3 7 7 1 7 5 6 2 9 21 222222334 822290 08992 189118883577688 0155245 4711 18122449122480 he 111-12 t 12345678901234 00000 d 22222222222222 al