Consider historical 'data showing that the average annual rate of return on the S&P $500$ portfolio over the past $85$ years has averaged roughly $8\%$ more than the Treasury bill return and that the S&P $500$ standard deviation has been about $38\%$ per year. Assume these values are representative of investors' expectations for future performance and that the current T$-$bill rate is $2\%.$

Calculate the expected return and variance of portfolios invested in T$-$bills and the S&P $500$ index with weights as shown below. Note: Round your "Expected Return" answers to $2$ decimal places and "Variance" answers to $4$ decimal places.

$\backslash$table$[[$W ${?}_{\text{B}\text{i}\text{l}\text{l}\text{s}},$W ${?}_{\text{I}\text{n}\text{d}\text{e}\text{x}},$Expected Return,,Variance,$],[0\mathrm{.}0,1\mathrm{.}0,10\mathrm{.}00,\%,0\mathrm{.}1444,$Example$],[0\mathrm{.}2,0\mathrm{.}8,,\%,,],[0\mathrm{.}4,0\mathrm{.}6,,\%,,],[0\mathrm{.}6,0\mathrm{.}4,,\%,,],[0\mathrm{.}8,0\mathrm{.}2,,\%,,],[1\mathrm{.}0,0\mathrm{.}0,,\%,,]]$