1. Using the notation in chapter, prove that a 95% confidence interval for ST is between
![](https://book.transtutors.com/qimg/8584feb4-eceb-4867-9d74-501ad73281d0.png)
2. A portfolio manager announces that the average of the returns realized in each year of the last 10 years is 20% per annum. In what respect is this statement misleading?