Question: please help me explain why the answer is that. (3-4). The following Q-Q plots compare the daily returns on S&P500 index with the normal distribution

please help me explain why the answer is that.

(3-4). The following Q-Q plots compare the daily returns on S&P500 index with the normal distribution and Cauchy distribution. (3) The plots suggest that (a) The returns have lighter tails than both normal and Cauchy. (b) The returns have fighter tails than normal and heavier tails than Cauchy, (c) The returns have heavier tails than normal and lighter tails than Cauchy. (d) The returns have heavier tails than both normal and Cauchy. Answer: C. Refer to Assignment 2, II; Lecture 2, p19-20

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