Assume you are considering a portfolio containing two assets, L and M. Asset L will represent 56 % of the dollar value of the portfolio, and asset M will account for the other 44 %. Assume that the portfolio is rebalanced at the end of each year. The expected returns over the next 6 years, 2018dash2023, for each of these assets are summarized in the following table:

	Projected Return
Year	Asset L	Asset M
2018	14%	21%
2019	14%	17%
2020	16%	17%
2021	18%	13%
2022	16%	12%
2023	18%	10%

a. Calculate the expected portfolio return, r Subscript p, for each of the 6 years. b. Calculate the average expected portfolio return, r overbar Subscript p, over the 6-year period. c. Calculate the standard deviation of expected portfolio returns, s Subscript p, over the 6-year period. d. Assume that asset L represents 44 % of the portfolio and asset M 56 %. Calculate the average expected return and standard deviation of expected portfolio returns over the 6-year period. e. Compare your answers to the answers from parts b and c.