Returns earned over a given time period are called realized returns. Historical data on realized returns is often used to estimate tuture results. Analysts across companies se realised stock returns to estimate the risk of a stock Consider the case of Blue Llama Mining Inc. (BLM): Five years of realized returns for BLM are given in the following table. Remember: 1. While BM 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 retums. 3. The historical returns for BLM for 2012 to 2016 aret 2016 2012 20.00% 2013 13,60% 2014 24.00% 2015 33.606 Stock retum 10,404 Given the preceding data, the average realized return on BM's stock is The preceding data series represents historical returns is of BLM's historical returns. Based on this conclusion, the standard deviation of BM'S If investors expect the average realized return from 2012 to 2016 on BLM stock to continue into the future, ita coefficient of variation (CV) will be