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 Celestial Crane Cosmetics Inc. (Crane Cosmetics) are given in the following table: Also note that: 1. While Crane Cosmetics was started 40 years ago, its common stock has been publicly traded for the past 25 years. 2. The returns on Crane Cosmetics's equity are calculated as arithmetic returns. 1. While Crane Cosmetics was started 40 vears ago, its common stock has been publicly traded for the past 25 years. 2. The returns on Crane Cosmetics's equity are calculated as arithmetic returns. Given this return data, the average realized return on Celestial Crane cosmetics incis stock is The preceding dato series represents a sample of Crane Cosmetics's historical returna. Based on this conciusion, the standard deviation of Crane Cosmetics's historical returns is If investors expect the average realized return on Celestial Crane Cosmetics Incis stock from 2016 to 2020 to continue into the future, its expected coefficient of variation (CV) is expected to equa