Assume that stock market returns have the market index as a common factor, and that alf stocks in the econorny have a beta of 1.5 on the maket index. Prrm specific returns all have a standard deviation of 20%. Suppose that an analyst studies 20 stocks and finds that one half of them have an alpha of +2.4%, and the other half have an alpha of 24%. Suppose the analyst invests $1.0 miltion in an equally weighted portfollo of the positive alpha stocks, and shorts $1 million of an equally weighted portfolio of the negative alpha stocks. a. What is the expected profit (in dollars) and standard deviation of the analyst's profip? (Do not round intermediate calculations. Round your onswers to the nearest whole doller amount.) b. How does your answer change if the analyst examines 40 slocks instead of 20 stocks? 100 stocks? (Do not round intermedilote calculntions. Round your nnswers to the nerest whole dollor omount.)