Athena wants to calculate the expected return on her portfolio. Which factors should she consider?

I Percentage of the portfolio invested in each individual security.

II Projected states of the economy.

III The performance of each security given various economic states.

IV Probability of occurrence for each state of the economy.

V The number of stocks in her portfolio

Multiple Choice

• I and V only

• II and IV only

• I, III, and V only

• II, III, and IV only

  I, II, III, and IV