You’ve collected data on the betas of various mutual funds. Each fund and its beta is listed below:

Mutual Fund               Beta
Weak Fund....................0.23
Fido Fund......................0.77
Vanwatch......................1.05
Temper..........................1.33

a. Estimate the beta of your fund holdings if you held equal proportions of each of the above funds.

b. Estimate the beta of your fund holdings if you had 20 percent of your investments in Weak Fund, 40 percent in Fido Fund, 15 percent in Vanwatch, and the remainder in Temper.