Assignment Instructions: $$ This assignment includes two questions relate to a data set for $10$ stocks. The data are given in the attachment $($in the first spreadsheet$).$ Q$1$: You are also given an Excel template in the attachment, please fill in the template file $($in the second spreadsheet$).$ Q$2$: Perform the second$-$pass regression: Regress the monthly average returns on the betas of$$ the assets. Does this confirm that the S&P $500$ is efficient?