Please solve the problem like the one below.

Calculate the standard deviation of return, given annual returns of: Year 1 7.8% Year 2 6.3% Year 3 -6.0% Year 4 9.0% Year 5 7.9% Round the answer to two decimals places in percentage form. Please write % sign in the "units" box. Your Answer: Calculate the standard deviation of return, given annual returns of: Year 1 6.5% Year 2 4.1% Year 3 -6.1% Year 4 10.7% Year 5 4.6% Round the answer to two decimals places. Please write the % sign in the units box. Your Answer: Step 1: Calculate arithmetic average: (6.5%+ 4.1% + (-6.1%)+10.7%+4.6%)/5 = 3.96% Step 2 Calculate variance: [(6.5%-3.96%)^2+ (4.1%-3.96%)^2+((-6.1%)-3.96%)^2+(10.7%-3.96%)^2+ (4.6%-3.96%)^2]/4= 38.38 Step 3 Calculate standard deviation: 38.38^(1/2) = 6.19%