a. 9. When constructing a portfolio, which of the following is NOT simply a weighted average of the underlying investments: Expected Return, Standard Deviation, or Beta? Use this concept to explain why we construct portfolios in finance. I 10. You're So Smart Enterprises recently paid a dividend, D., of $2.75. It expects to have nonconstant growth of 22% for 3 years followed by a constant rate of 4.5% thereafter. The firm's required return is 11%. a. How far away is the horizon date? b. What is the firm's horizon value? c. What is the firm's intrinsic value today? 11. A stock's returns have the following probability distribution: Economy Probability Return Weak 0.1 -20% Below avg 0.1 -15% Average 0.3 12% Above avg 0.3 25% Strong 0.2 35% Assume the risk-free rate is 3%. Calculate the stock's expected return, standard deviation, coefficient of variation, and Sharpe ratio