Problem $12-22$ Calculating Returns $[$LO$2,3]$

Suppose we have the following Treasury bill returns and inflation rates over an eight$-$

year period:

a$.$ Calculate the average return for Treasury bills and the average annual inflation rate for

this period. $($Do not round intermediate calculations and enter your answers as a

percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ Calculate the standard deviation of Treasury bill returns and inflation over this period.

$($Do not round intermediate calculations and enter your answers as a percent

rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

c$.$ What was the average real return for Treasury bills over this period? $($A negative

answer should be indicated by a minus sign. Do not round intermediate

calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,$

$32\mathrm{.}16.)$