1. Using the following returns, calculate the arithmetic average returns, the standard deviations, and the geometric average returns for the stock A, B, and C. Assume the returns of stocks are normally distributed. If Mr. Wong owns a stock C, based on the historical return data, there is only a 2.5 percent chance that the stock C will produce a return less than _____ percent in any one year. If Mr. Wong owns a stock B, which range of returns would Mr. Wong expect to see approximately two-thirds of the time? (7 Marks)

Year	A %	B %	C %
1	2.54	4.84	1.5
2	-3.27	-0.97	-1.97
3	-4.54	-2.24	-2.4
4	2.28	-4.58	1.38
5	-1.54	1.76	-2.44
6	4.54	6.84	4.84
7	-2.54	-1.24	-4.44
8	2.35	4.65	1.45
9	2.94	6.24	7.24