Consider the following information:

		Rate of Return if State Occurs
State of Economy	Probability of State of Economy	Stock A	Stock B	Stock C
Boom	0.64	0.29	0.31	0.09
Bust	0.36	0.15	0.11	0.19

Requirement 1:

What is the expected return on an equally weighted portfolio of these three stocks? (Do not round your intermediate calculations.)

Requirement 2:

What is the variance of a portfolio invested 10 percent each in A and B and 80 percent in C? (Do not round your intermediate calculations.)