Consider the following information: 4 State of Economy Boom Bust Probability of State of Economy 0.76 0.24 Rate of Return if State Occurs Stock A Stock B Stock C 0.27 0.27 0.07 0.09 0.07 0.17 10 points a. What is the expected return on an equally weighted portfolio of these three stocks? Expected return b. What is the variance of a portfolio invested 10 percent each in A and B and 80 percent in C? Variance