Consider the following discrete probability distributions of payoffs for 3 securities that are held in a DI's trading portfolio (payoff amounts shown are in $millions):

SECURITY	PROBABILITY	PAYOFF
Alpha	0.50	355
	0.49	150
	0.01	300

SECURITY	PROBABILITY	PAYOFF
Beta	0.50	400
	0.49	150
	0.0025	300
	0.0075	3,300

SECURITY	PROBABILITY	PAYOFF
Gamma	0.49	400
	0.49	150
	0.01	150
	0.01	2,000

a. What are the expected returns for securities Alpha and Beta, respectively (in millions)?

Show work and discuss.