Based on the return profile of scenarios below: 1 State of Economy Probability of State Stock X Stock Y 0.1 -2% 3% 2 5% 7% 3 0.3 8% -10% 0.6 a. [2pts] What are the expected return for Stocks X and Y? b. [2pts] What are the the standard deviations of returns on Stocks X and Y? C. (1pt] [Extra credit and not required] What is the covariance between returns on these two stocks? The covariance formula is cov(X,Y) = P.(*. E[x])(Y, E[Y]) s=1