All the returns are monthly and in %. So 0.56 means 0.56% in that month.

Month Mkt-RF RF Apple return Apple return -RF Answer

1 -4.74 0.41 0.91 0.50 From the regression, we can find that the beta is 0.
2 2.45 0.43 10.48 10.05
3 5.2 0.47 18.48 18.01 Market risk premium
4 -6.4 0.46 -8.65 -9.11 0.330
5 -4.42 0.5 -32.29 -32.79
6 4.64 0.4 24.70 24.30 CAPM forecast
7 -2.51 0.48 -2.98 -3.46 Expected return
8 7.03 0.5 19.93 19.43
9 -5.45 0.51 -57.74 -58.25
10 -2.76 0.56 -24.03 -24.59
11 -10.72 0.51 -15.65 -16.16
12 1.19 0.5 -9.85 -10.35
13 3.13 0.54 45.38 44.84
14 -10.05 0.38 -15.61 -15.99
15 -7.26 0.42 20.93 20.51
16 7.94 0.39 15.50 15.11
17 0.72 0.32 -21.73 -22.05
18 -1.94 0.28 16.54 16.26
19 -2.13 0.3 -19.18 -19.48
20 -6.46 0.31 -1.28 -1.59
21 -9.25 0.28 -16.39 -16.67
22 2.46 0.22 13.22 13.00
23 7.54 0.17 21.30 21.13
24 1.61 0.15 2.82 2.67
25 -1.44 0.14 12.88 12.74
26 -2.29 0.13 -12.22 -12.35
27 4.24 0.13 9.08 8.95
28 -5.2 0.15 2.53 2.38
29 -1.38 0.14 -4.00 -4.14
30 -7.21 0.13 -23.95 -24.08
31 -8.18 0.15 -13.88 -14.03
32 0.5 0.14 -3.34 -3.48
33 -10.35 0.14 -1.69 -1.83
34 7.84 0.14 10.83 10.69
35 5.96 0.12 -3.55 -3.67
36 -5.76 0.11 -7.55 -7.66
37 -2.57 0.1 0.21 0.11
38 -1.88 0.09 4.53 4.44
39 1.09 0.1 -5.80 -5.90
40 8.22 0.1 0.57 0.47
41 6.05 0.09 26.23 26.14
42 1.42 0.1 6.18 6.08
43 2.35 0.07 10.60 10.53
44 2.34 0.07 7.26 7.19
45 -1.24 0.08 -8.36 -8.44
46 6.08 0.07 10.47 10.40
47 1.35 0.07 -8.65 -8.72
48 4.29 0.08 2.20 2.12
49 2.15 0.07 5.57 5.50
50 1.4 0.06 6.03 5.97
51 -1.32 0.09 13.04 12.95
52 -1.83 0.08 -4.66 -4.74
53 1.17 0.06 8.84 8.78
54 1.86 0.08 15.97 15.89
55 -4.06 0.1 -0.61 -0.71
56 0.08 0.11 6.65 6.54
57 1.6 0.11 12.35 12.24
58 1.43 0.11 35.23 35.12
59 4.54 0.15 27.96 27.81
60 3.43 0.16 -3.95 -4.11
61 -2.76 0.16 19.41 19.25
62 1.89 0.16 16.67 16.51
63 -1.97 0.21 -7.11 -7.32
64 -2.61 0.21 -13.46 -13.67
65 3.65 0.24 10.26 10.02
66 0.57 0.23 -7.42 -7.65
67 3.92 0.24 15.87 15.63
68 -1.22 0.3 9.94 9.64
69 0.49 0.29 14.33 14.04
70 -2.02 0.27 7.42 7.15
71 3.61 0.31 17.76 17.45
72 -0.25 0.32 6.00 5.68
73 3.04 0.35 5.04 4.69
74 -0.3 0.34 -9.30 -9.64
75 1.46 0.37 -8.42 -8.79
76 0.73 0.36 12.23 11.87
77 -3.57 0.43 -15.09 -15.52
78 -0.35 0.4 -4.18 -4.58
79 -0.78 0.4 18.67 18.27
80 2.03 0.42 -0.16 -0.58
81 1.84 0.41 13.46 13.05
82 3.23 0.41 5.33 4.92
83 1.71 0.42 13.05 12.63
84 0.87 0.4 -7.44 -7.84
85 1.4 0.44 1.05 0.61
86 -1.96 0.38 -1.31 -1.69
87 0.68 0.43 9.81 9.38
88 3.49 0.44 7.42 6.98
89 3.24 0.41 21.43 21.02
90 -1.96 0.4 0.70 0.30
91 -3.73 0.4 7.96 7.56
92 0.92 0.42 5.10 4.68
93 3.22 0.32 10.82 10.50
94 1.8 0.32 23.77 23.45
95 -4.83 0.34 -4.07 -4.41
96 -0.87 0.27 8.70 8.43
97 -6.36 0.21 -31.66 -31.87
98 -3.09 0.13 -7.64 -7.77
99 -0.93 0.17 14.78 14.61
100 4.6 0.18 21.22 21.04
101 1.86 0.18 8.51 8.33
102 -8.44 0.17 -11.29 -11.46
103 -0.77 0.15 -5.07 -5.22
104 1.53 0.13 6.66 6.53
105 -9.24 0.15 -32.96 -33.11
106 -17.23 0.08 -5.34 -5.42
107 -7.86 0.03 -13.87 -13.90
108 1.74 0 -7.90 -7.90
109 -8.12 0 5.60 5.60
110 -10.1 0.01 -0.91 -0.92
111 8.95 0.02 17.70 17.68
112 10.19 0.01 19.70 19.69
113 5.21 0 7.93 7.93
114 0.43 0.01 4.87 4.86
115 7.72 0.01 14.72 14.71
116 3.33 0.01 2.95 2.94
117 4.08 0.01 10.19 10.18
118 -2.59 0 1.70 1.70
119 5.56 0 6.05 6.05
120 2.75 0.01 5.41 5.40
121 -3.36 0 -8.86 -8.86
122 3.4 0 6.54 6.54
123 6.31 0.01 14.85 14.84
124 2 0.01 11.10 11.09
125 -7.89 0.01 -1.61 -1.62
126 -5.56 0.01 -2.08 -2.09
127 6.93 0.01 2.27 2.26
128 -4.77 0.01 -5.50 -5.51
129 9.54 0.01 16.72 16.71
130 3.88 0.01 6.07 6.06
131 0.6 0.01 3.38 3.37
132 6.82 0.01 3.67 3.66
133 1.99 0.01 5.20 5.19
134 3.49 0.01 4.09 4.08
135 0.45 0.01 -1.33 -1.34
136 2.9 0 0.46 0.46
137 -1.27 0 -0.66 -0.66
138 -1.75 0 -3.50 -3.50
139 -2.36 0 16.33 16.33
140 -5.99 0.01 -1.45 -1.46
141 -7.59 0 -0.91 -0.91
142 11.35 0 6.15 6.15
143 -0.28 0 -5.58 -5.58
144 0.74 0 5.97 5.97
145 5.05 0 12.71 12.71
146 4.42 0 18.83 18.83
147 3.11 0 10.53 10.53
148 -0.85 0 -2.60 -2.60
149 -6.19 0.01 -1.07 -1.08
150 3.89 0 1.09 1.09
151 0.79 0 4.58 4.58
152 2.55 0.01 9.39 9.38
153 2.73 0.01 0.28 0.27
154 -1.76 0.01 -10.76 -10.77
155 0.78 0.01 -1.24 -1.25
156 1.18 0.01 -9.07 -9.08
157 5.57 0 -14.41 -14.41
158 1.29 0 -2.53 -2.53
159 4.03 0 0.29 0.29
160 1.56 0 0.03 0.03
161 2.8 0 2.24 2.24
162 -1.2 0 -11.83 -11.83
163 5.65 0 14.12 14.12
164 -2.71 0 8.38 8.38
165 3.77 0 -2.15 -2.15
166 4.18 0 9.64 9.64
167 3.12 0 7.01 7.01
168 2.81 0 0.89 0.89
169 -3.32 0 -10.77 -10.77
170 4.65 0 5.75 5.75
171 0.43 0 2.00 2.00
172 -0.19 0 9.94 9.94
173 2.06 0 7.87 7.87
174 2.61 0 2.77 2.77
175 -2.04 0 2.87 2.87
176 4.23 0 7.75 7.75
177 -1.97 0 -1.71 -1.71
178 2.52 0 7.20 7.20
179 2.55 0 10.60 10.60
180 -0.06 0 -7.19 -7.19
181 -3.11 0 6.14 6.14
182 6.13 0 10.08 10.08
183 -1.12 0 -3.14 -3.14
184 0.59 0 0.58 0.58
185 1.36 0 4.53 4.53
186 -1.53 0 -3.72 -3.72
187 1.54 0 -3.29 -3.29
188 -6.04 0 -6.62 -6.62
189 -3.08 0 -2.18 -2.18
190 7.75 0 8.34 8.34
191 0.56 0.01 -0.58 -0.59
gression, we can find that the beta is 0.19233 and alpha is -0.16241.

Risk-free rate (Taking the average of RF)

0.144

(Under CAPM, alpha is assumed as 0)

20.695%
SUMMARY OUTPUT

Regression Statistics
Multiple R 0.527112
R Square 0.277847
Adjusted R 0.274027
Standard E 3.858514
Observatio 191

ANOVA
df SS MS F Significance F
Regression 1 1082.629 1082.629 72.71756 4.74E-15
Residual 189 2813.857 14.88813
Total 190 3896.486

Coefficients
Standard Error t Stat P-value Lower 95%Upper 95%
Lower 95.0%
Upper 95.0%
Intercept -0.162409 0.285098 -0.569663 0.569583 -0.724791 0.399973 -0.724791 0.399973
X Variable 0.19233 0.022554 8.527459 4.74E-15 0.14784 0.23682 0.14784 0.23682