Hello, I'm kind of struggling with this question. Can someone please help clarify this question.

Since stock price beta tend to vary depending on the time frame analyzed, daily, weekly, and monthly. How do these factors influence or undermine the usefulness of beta as a risk indicator for the stock market?

Beta is a measure of a stock's price volatility. A beta of 1 is the standard. Stocks with betas less than 1 are less risky than those with betas more than 1. This site explains betas, their usefulness and problems with using them.

http://stocks.about.com/od/evaluatingstocks/a/beta120904.htm