Please solve this problem like the example below

Calculate the variance of return, given annual returns of: Year 1 8.3% Year 2 2.6% Year 3 -10.7% Year 4 7.0% Year 5 7.2% Round the answer to two decimals places. Your Answer: Calculate the variance 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. 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