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 $27\%$ per year. Assume these values are representative of investors' expectations for future performance and that the current Tbill rate is $3\%.$

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$[[W_{\text{B}\text{i}\text{l}\text{l}\text{s}},W_{\text{I}\text{n}\text{d}\text{e}\text{x}},$Exp$$cted Return,,Variance,$],[0\mathrm{.}0,1\mathrm{.}0,11\mathrm{.}00,\%,0\mathrm{.}0729,$Example$],[0\mathrm{.}2,0\mathrm{.}8,,\%,,],[0\mathrm{.}4,0\mathrm{.}6,,\%,,],[0\mathrm{.}6,0\mathrm{.}4,,\%,,],[0\mathrm{.}8,0\mathrm{.}2,8,\%,,],[1\mathrm{.}0,0\mathrm{.}0,,\%,,]]$