Use the data table to estimate the beta of Nike and HP Inc. stock based on their monthly returns from​ 2011-2015. ​(Hint​: You can use the​ slope() function in​ Excel.) The estimated monthly beta for Nike is nothing. ​ (Round to three decimal​ places.)
Monthly Returns Date Nike HP Inc. S&P 500
Jan-11 -3.442% 8.527% 2.330%
Feb-11 7.941% -4.509% 3.474%
Mar-11 -14.624% -5.913% -0.005%
Apr-11 8.745% -1.465% 2.896%
May-11 2.587% -7.406% -1.121%
Jun-11 6.915% -2.301% -1.706%
Jul-11 0.189% -3.379% -2.000%
Aug-11 -3.882% -25.988% -5.498%
Sep-11 -0.958% -13.292% -6.910%
Oct-11 12.677% 18.530% 10.915%
Nov-11 -0.176% 5.036% -0.406%
Dec-11 0.572% -7.406% 1.024%
Jan-12 7.907% 8.618% 4.637%
Feb-12 3.779% -9.543% 4.341%
Mar-12 0.815% -5.373% 3.214%
Apr-12 3.163% 3.903% -0.668%
May-12 -2.977% -8.401% -6.006%
Jun-12 -18.857% -10.750% 4.045%
Jul-12 6.345% -9.299% 1.183%
Aug-12 4.681% -7.456% 2.505%
Sep-12 -2.516% 1.848% 2.543%
Oct-12 -3.719% -18.816% -1.820%
Nov-12 6.675% -6.209% 0.566%
Dec-12 6.299% 10.716% 0.902%
Jan-13 4.748% 15.860% 5.119%
Feb-13 1.147% 21.987% 1.276%
Mar-13 8.355% 19.027% 3.795%
Apr-13 7.778% -13.591% 1.921%
May-13 -2.720% 18.544% 2.361%
Jun-13 3.276% 2.150% -1.340%
Jul-13 -1.193% 3.548% 5.168%
Aug-13 0.175% -13.006% -2.999%
Sep-13 15.632% -5.394% 3.176%
Oct-13 4.295% 16.103% 4.631%
Nov-13 4.461% 12.228% 2.964%
Dec-13 -0.329% 2.834% 2.580%
Jan-14 -7.363% 3.645% -3.525%
Feb-14 7.811% 3.034% 4.552%
Mar-14 -5.671% 8.785% 0.829%
Apr-14 -1.232% 2.163% 0.695%
May-14 5.757% 1.331% 2.321%
Jun-14 0.832% 1.015% 2.064%
Jul-14 -0.542% 5.730% -1.344%
Aug-14 2.152% 6.712% 3.946%
Sep-14 13.558% -6.237% -1.371%
Oct-14 4.226% 1.156% 2.355%
Nov-14 6.798% 8.863% 2.747%
Dec-14 -2.880% 3.149% -0.253%
Jan-15 -4.056% -9.968% -2.963%
Feb-15 5.583% -3.570% 5.620%
Mar-15 3.305% -10.103% -1.566%
Apr-15 -1.485% 5.809% 0.983%
May-15 3.147% 1.304% 1.286%
Jun-15 6.246% -9.623% -2.018%
Jul-15 6.665% 1.699% 2.259%
Aug-15 -3.012% -8.060% -6.095%
Sep-15 10.291% -8.104% -2.533%
Oct-15 6.554% 5.271% 8.506%
Nov-15 0.954% 2.422% 0.366%
Dec-15 -5.262% -4.593% -1.729%