The following histograms summarize monthly re-turns on Sony, the whole stock market, and risk-free assets. Having seen

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The following histograms summarize monthly re-turns on Sony, the whole stock market, and risk-free assets. Having seen this comparison, explain why it does not make much difference whether we subtract the risk-free rate from the variables in the CAPM regression.
The following histograms summarize monthly re-turns on Sony, the whole
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