Returns earned over a given time period are called realized returns. Historical data on realized returns is often used to estimate future fesigta. Analysts across companies use realized stock returns to estimate the risk of a stock. Five years of realized returns for Happy Dog Soap Inc, (Happy Dog) are given in the following table: Also note that: 1. While Happy Dog was started 40 years ago, its common stock has been publicy traded for the past 25 years. 2. The returns on Happy Dog's equity are calculated as arithmetic returns. Given this return data, the average realized return on Happy Dog Soap Inc.'s stock is The preceding data series represents a sample of Happy Dog's historical returns, Based on this conclusion, the standard deviation of Happy Dog's historical returns is If investors expect the average realized return on Happy Dog Soap Inci' 5 stock from 2016 to 2020 to continue into the future, its expected coefticient of variation (CV) is expected to equal d returns. Historical data on realized returns timate the risk of a stock. ppy Dog) are given in the following table: as arithmetic returns. Happy Dog Soap Inc.'s stock is Dog's historical returns. Basi onclusion, py Dog Soap Inc.'s stock from : 0 to contir Five years of realized returns for Happy Dog Soap Inc. (Hap Also note that: 1. While Happy Dog was started 40 years ago, its commc 2. The returns historical returns is If investors expect the average realized return on Happy Dog S of variation (CV) is expected to equal fealized returns for Happy Dog Soap Inc. (Happy Dog le Happy Dog was started 40 years ago, its common stoch returns on Happy Dog's equity are calculated as arithmet return data, the average re ding data series represents 0.3775 returns is \begin{tabular}{|l|} \hline 0.8314 \\ \hline 0.5168 \\ \hline \end{tabular} s expect the average realize (CV) is expected to equal