25 .60 9% QUESTION 3 [20 MARKS] Max Ltd provided the following predictions to the company advisor to give an expert opinion on measurement of risk and return: Condition Probability X z Boom 15% 10% Normal 10% Recession 15 10% An investment of P6000 is for asset X and P4000 for asset Z. Max Ltd sub contracted the work to you so that you can calculate: a) The expected portfolio returns. (10 Marks) b) The Portfolio Variance (5 Marks) c) The Standard Deviation (5 Marks) 5% ENT