Exhibit 63
USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)

Exhibit 6.3
USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S) $$\begin{array} { l l r l c } \text { Stock } & \mathbf { R } _ { \text {it } } & \mathbf { R } _ { \text {mt } } & \mathbf { a } _ { \mathbf { i } } & \text { Beta } \\\hline \text { Elliot } & 9.9 & 15.0 & 0 & 0.8 \\\text { Hemlick } & 9.1 & 8.0 & 0 & 1.1\end{array}$$ R_it = return for stock i during period t
R_mt = return for the aggregate market during period t
-Refer to Exhibit 6.3. What is the abnormal rate of return for Elliot during period t using only the aggregate market return (ignore differential systematic risk) ?

A) 1.50
B) 1.10
C) -1.50
D) -5.10
E) -8.00