Answer: 9.53%

**Step 1: Calculate the mean return** First, we need to calculate the arithmetic mean of the returns: Mean = (-20.60 + 15.00 + 0.50 + 9.80 + 4.60) / 5 Mean = (9.30) / 5 = 1.86% **Step 2: Calculate absolute deviations from the mean** For each return, calculate the absolute difference from the mean (1.86%): 1. |-20.60 - 1.86| = |-22.46| = 22.46% 2. |15.00 - 1.86| = |13.14| = 13.14% 3. |0.50 - 1.86| = |-1.36| = 1.36% 4. |9.80 - 1.86| = |7.94| = 7.94% 5. |4.60 - 1.86| = |2.74| = 2.74% **Step 3: Calculate the mean of absolute deviations** MAD = (22.46 + 13.14 + 1.36 + 7.94 + 2.74) / 5 MAD = 47.64 / 5 = 9.528% **Step 4: Compare with options** 9.528% is closest to 9.53% (Option A). **Verification:** - Option B (11.91%) is too high - Option C (13.69%) is even higher Therefore, the correct answer is **A. 9.53%**.

Author: LeetQuiz .