A pension fund has been offered a portfolio of two investment opportunities made up of A and B$.$

Asset A gives an annual return of $3$B$\%,$ where B is a binomial random variable with parameters n $=6$ and p $=0\mathrm{.}4.$

Asset B gives an annual return of $4$P$\%,$ where P is a Poisson random variable with parameter $\backslash$mu $=4.$

Assuming that A and B are independent, calculate the following two measures of investment risk for each asset:

$($i$)$ Variance

$($ii$)$ Shortfall probability versus the upper and lower quartiles applicable to the total portfolio returns.