$($d$)$ For the next year, everyone agrees Apple stock and the market have the following expected excess return and standard deviation of returns.

Asset Average excess return Standard deviation of returns

Apple $44\%30\%$

Market $6\%18\%$

Does this violate the CAPM? Explain.

$($c$)$

$$Over the past $10$

$$years$,$ Apple stock and the market have had the following average annual excess returns and standard deviations.

Asset Average excess return Standard deviation of returns

Apple

$44$

$\%$

$30$

$\%$

Market