Please do not show or use excel, thank you.

Problem 9. [8 pts] You are evaluating the performance of two portfolio managers and you have gathered annual return for the past decade: Year Mgr P. Return Mgr C. Return (%) (%) 1 -1.5 -6.5 2 -1.75 -3.75 3 -1.5 -1.5 4 -1.0 3.5 5 1.0 4.5 6 4.5 6.5 7 6.5 6.75 8 8.5 8.5 9 13.5 14.5 10 17.5 13.5 a. For each manager, calculate: (i) the average annual return, (ii) the standard deviation of returns, and (iii) the semi-deviation of returns (only consider returns that are below the average). b. Assuming that the average annual risk-free rate during the 10-year sample period was 1.75%, calculate the Sharpe ratio for each portfolio. Based on these computations, which manager appears to have performed the best