Yоu аre аn аnalyst fоr a large public pensiоn fund and you have been assigned the task of evaluating external portfolio managers Y. You consider the following historical average return, standard deviation, and CAPM beta estimates for these two managers over the past five years: Portfolio Actual Avg. Return Standard Deviation Beta Manager Y [x] % [y] % [z] Additionally, your estimate for the risk premium for the market portfolio is [a] percent and the risk-free rate is currently [b] percent. Calculate fund manager Y’s average “alpha” over the five-year holding period. Round your answers to two decimal places and report the percent(%) value and include the negative sign if the answer is negative. Example: -15 for -15%.