Answer: 0.1824%

The correct answer is A (0.1824%). **Explanation:** Since the data represents the entire population of 5 managers (not a sample), we use the population variance formula: σ² = Σ(Xᵢ - μ)² / N Where: - Xᵢ are the individual returns - μ is the population mean - N = 5 (population size) **Step 1: Calculate the mean (μ)** μ = (0.24 + 0.26 + 0.30 + 0.18 + 0.20) / 5 = 1.18 / 5 = 0.236 **Step 2: Calculate squared deviations from the mean** (0.24 - 0.236)² = 0.004² = 0.000016 (0.26 - 0.236)² = 0.024² = 0.000576 (0.30 - 0.236)² = 0.064² = 0.004096 (0.18 - 0.236)² = (-0.056)² = 0.003136 (0.20 - 0.236)² = (-0.036)² = 0.001296 **Step 3: Sum the squared deviations** 0.000016 + 0.000576 + 0.004096 + 0.003136 + 0.001296 = 0.00912 **Step 4: Divide by N (population size)** σ² = 0.00912 / 5 = 0.001824 **Step 5: Convert to percentage** 0.001824 = 0.1824% **Key Points:** - Population variance divides by N (5) - Sample variance would divide by (n-1) = 4 - The result is a variance of 0.1824%, not 18.24% (which would be off by a factor of 100) - Options C and D are incorrect as they don't match the calculated value

Author: Nikitesh Somanthe