Question: Value Index Annualized Growth Index Annualized Month Return (%) Return (% 9.65% 8.92% 16.58 17.88 27.14 28.80 16.95 13.31 18.41 16.39 18.72 16.69 18.51 13.08

Value Index Annualized Growth Index Annualized
Value Index Annualized Growth Index Annualized Month Return (%) Return (% 9.65% 8.92% 16.58 17.88 27.14 28.80 16.95 13.31 18.41 16.39 18.72 16.69 18.51 13.08 16.92 9.73 17.92 10.39 20.80 13.49 28.62 25.41 22.23 16.20 17.0 20.94 22.00 16.48 23.98 19.08 25.53 25.95 26.98 26.91 27.51 28.48 16.62 22.18 22.23 25.22 22.99 23.48 16.45 18.87 16.26 19.55 24.20 25.10 a. For both the value and growth indexes, calculate the arithmetic mean of the 24 monthly average annualized returns. Which index appears to have outperformed the other over this period? Explain. Do not round intermediate calculations. Round your answers to two decimal places. The Value Index: The Growth Index: The -Select- appears to have outperformed the [-Select- V over the 24-month period by % . b. For each month in this sample period, compute the difference in annualized returns between the value index and the growth index (Rvalue " Rgrowth). Calculate the average of this return differential series and compare it to your answers from part (a). Do not round intermediate calculations. Round your answers to two decimal places. Negative values, if any, should be indicated by a minus sign. If your answer is zero, enter 0. Month Rvalue - Rgrowth Average

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