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 22% 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.

\begin{tabular}{|r|r|r|r|r|l|} \hline \multicolumn{1}{|c|}{WBills} & \multicolumn{1}{|c|}{WIndex} & Expected Return & & Variance & \\ \hline 0.0 & 1.0 & 10.00 & % & 0.0484 & Example \\ \hline 0.2 & 0.8 & & % & & \\ \hline 0.4 & 0.6 & & % & & \\ \hline 0.6 & 0.4 & % & & \\ \hline 0.8 & 0.2 & & % & & \\ \hline 1.0 & 0.0 & % & & \\ \hline \end{tabular}