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Table 9.2 Average Returns for Bonds Low-risk bonds 1950 to 1959 Average 2.1 % 19

ID: 2740511 • Letter: T

Question

Table 9.2 Average Returns for Bonds

Low-risk bonds

1950 to 1959 Average 2.1 %

1960 to 1969 Average 4.0

1970 to 1979 Average 6.5

1980 to 1989 Average 8.4

1990 to 1999 Average 5.0

2000 to 2009 Average 2.5

Table 9.4 Annual Standard Deviation for T-Bills

Low-risk bonds

1950 to 1959 1.1 %

1960 to 1969 1.5

1970 to 1979 2.0

1980 to 1989 2.7

1990 to 1999 1.2

2000 to 2009 1.8

Use the tables above to calculate the coefficient of variation of the risk-return relationship in T-bills during each decade since 1950. (Round your answers to 2 decimal places.)

Decade CoV 1950s

1960s ?

1970s ?

1980s ?

1990s ?

2000s ?

Explanation / Answer

Coefficient of variation = Standard Deviation / Expected Return

So

CoV 1950s = 1.1/2.1 = 0.52381

CoV 1960s = 1.5/4 = 0.375

CoV 1970s = 2/6.5 = 0.308

CoV 1980s = 2.7/8.4 = 0.321

CoV 1990s = 1.2/5 = 0.24

CoV 2000s = 1.8/2.5 = 0.72