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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

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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 32% probability that the firm will have a 13% return and a 68% probability that the firm will have a - 9% return. What is the volatility (standard deviation) of a portfolio that consists of an equal investment in: a. 23 firms of type S? b. 23 firms of type I? ... a. What is the volatility (standard deviation) of a portfolio that consists of an equal investment in 23 firms of type S? Standard deviation is %. (Round to two decimal places.)

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