Assume that stock market returns have the market index as a common factor, and that all stocks in the economy have a beta of 1.5 on the market index. Firm-specific returns all have a standard deviation of 30%. Suppose that an analyst studies 20 stocks and finds that one half of them have an alphe of +22%, and the other half have an alpha of 2.2%. Suppose the analyst invests $1.0million in an equally weighted porfolio of the positive alpha stocks, and shorts $1million of an equally weighted portfollo of the negative alpha stocks. a. What is the expected profit (in dollars) and standard deviation of the analyst's profit? (Do not round intermediote colculations. Round your answers to the nearest whole dollar amount.) b. How does your answer change if the analyst examines 50 stocks instead of 20 stocks? 100 stocks? (Do not round intermediate coleulations. Round your answers to the nearest whole dollar amount.)