Please show steps to get solutions for all questions.

3 Computing Holding-Period Returns: From the price data below, compute the holding period returns for Jazman and Solomon for periods 2 through 4. How would you interpret the meaning of a holding-period return? Period Jazman Solomon 1 $ 9.00 $ 27.00 2 $ 11.00 $ 28.00 3 $ 10.00 $ 32.00 4 $ 13.00 $ 29.00 Calculate the historical average return and the historical standard deviation of returns. Using these two pieces of data, assume the returns are normally distributed and map-out the 68% certainty level, the 95% certainty level, and the 99% certainty level. # 1 Month Jan Feb Mar Apr May Stock Price $ 36.25 $ 39.56 $ 42.10 $ 38.78 $ 40.69 #2 Month Jan Feb Mar Apr May Stock Price $ 56.69 $ 61.40 $ 62.69 $ 57.87 $ 60.59