Returns earned over a given time period are called realized returns. Historicay on realized returns is often used to estimate future results Analysts across companies use realized stock returns to estimate the risk ostock, Consider the case of Blue Llama Mining Inc. (BLM): Five years of realized returns for BLM are a Remember: 1. While BLM was started 40 years ago, its common stock has been publicly traded for the past 25 years 2. The returns on its equity are calculated as arithmetic returns 3. The historical returns for BLM for 2014 to 2018 are: 2014 2015 2016 24.00% 2017 33.60% 2018 10.40% Stock return 20.00% 13.60% Given the preceding data, the average realized return on BLM's stock is The preceding data series represents historical returns is of BLM's historical retums. Based on this conclusion, the standard deviation of BLM's If investors expect the average realized return from 2014 to 2018 on BLM's stock to continue into the future, its coefficient of variation (CV) will be