Consider an economy with two types of firms, S and I. S firms all move together. I firms move independently. For both types of firms there is a 40% probability that the firm will have a 11% return and a 60% probability that the firm will have a 4% return. What is the volatility (standard deviation) of a portfolio that consists of an equal investment in: a. 39 firms of type S ? b. 39 firms of type I? a. What is the volatility (standard deviation) of a portfolio that consists of an equal investment in 39 firms of type S ? Standard deviation is %. (Round to two decimal places.)