Question: For Problems 20-22, download the spreadsheet containing the data used to prepare Table 5.3 Download Table 5.3, Rates of return, 1927-2016, included with the question.

For Problems 20-22, download the spreadsheet containing the data used to prepare Table 5.3 Download Table 5.3, "Rates of return, 1927-2016," included with the question. Calculate the means and standard deviations of small stock returns as Table 5.3 Download Table 5.3of the text provides for large stocks.(LO 5-2) Have small stocks provided better reward-to-volatility (Sharpe) ratios than large stocks? Do small stocks show a similar higher standard deviation in the earliest subperiod as Table 5.5 Download Table 5.5documents for large stocks? Convert the nominal returns on large stocks to real rates. Reproduce Table 5.3 Download Table 5.3using real rates instead of excess returns. Compare the results to those of Table 5.3 Download Table 5.3. Are real or nominal returns more volatile in this sample period?(LO 5-1) Repeat the previous problem for small stocks and compare the results for real versus nominal returns.(LO 5-1)

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