Bay Land, Inc. has the following distribution of returns:

1. What is the expected return of the portfolio?

2. What is the standard deviation of the portfolio?

\begin{tabular}{|l|c|c|} \hline State & Return & Probability \\ \hline Boom & 0.3 & 0.25 \\ \hline Normal & 0.4 & 0.15 \\ \hline Bust & 0.3 & 0.30 \\ \hline \end{tabular}