Calculate the expected return and standard deviation for the following portfolios:

1. All in Z

2. 0.75 in Z and .25 in Y

3. 0.5 in Z and .5 in Y

4. 0.25 in Z and .75 in Y

5. All in Y

(b) Draw the mean-standard deviation frontier.

(c) Which portfolios might be held by an investor who likes high mean and low standard deviation? (In other words, which portfolios are on the efficient frontier?)