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1. The returns of Steve Inc. and Phoenix Co. are listed below: Year r Steve r Phoenix 2018 12% 14% 2019 5% 3% 2020 3%

1. The returns of Steve Inc. and Phoenix Co. are listed below:

Year r Steve r Phoenix

2018 12% 14%

2019 5% 3%

2020 3% 9%

Your investment portfolio consists of 60% invested on Steve and 40% on Phoenix.

What is the standard deviation of returns for your portfolio based on the above data of three-year stock returns?

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