For Problems 20–22, download the Spreadsheet containing the data for Table 5.2: Rate...

For Problems 20–22, download the Spreadsheet containing the data for Table 5.2: Rates of return, 1926–2008, from www.mhhe.com/bkm .

Calculate the same subperiod means and standard deviations for small stocks as Table 5.5 of the text provides for large stocks.

a. Have small stocks provided better reward-to-volatility ratios than large stocks?

b. Do small stocks show a similar higher standard deviation in the earliest subperiod as Table 5.5 documents for large stocks?