Returns earned over a given time period are called realized returns. Historical data on realized returns is often used to estimate future results. Analysts across companies use realized stock returns to estimate the risk of a stock.

Five years of realized

returns for Blue Llama Mining Inc. (Blue Llama) are given in the following

table:

Stock Return 2012 2013 2014 2015 2016

5% 3.40% 6%8.40% 2.60%

Also note that:

1.While Blue Lima was started 40 years ago its common stock has been traded for the past 25 years.

2.The returns on Blue Limas equity are calculated as arithmetic returns.

Given this return data, the

average realized return on Blue Llama Mining Inc.'s stock is----?.

The preceding data series

represents-----? of Blue Llama's historical returns. Based on this

conclusion, the standard deviation of Blue Llama's historical returns is----?.

If investors expect the average realized return on Blue Llama Mining Inc.'s stock from 2012 to 2016 to

continue into the future, its expected coefficient of variation (CV) is

expected to equal---- ?