b) Consider the following information: State ofEconomy Probability of State of Economy Boom 0.65 Bust 0.35 Rate of Retur if State Occurs Stock A Stock B Stock C 0.07 0.15 033 0.13 0.03 0.06 a) What is the expected return on an equally weighted portfolio of these three stocks? b) What is the variance of a portfolio invested 15% each in A and B and 70% in C