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Consider the following information: State of Economy Probability of State of Economy Rate of Return if State Occurs Stock A Stock B Stock C Boom

Consider the following information:
State of Economy Probability of State of Economy Rate of Return if State Occurs
Stock A Stock B Stock C
Boom .64.10.18.36
Bust .36.10.04.07
a.
What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.)
b. What is the variance of a portfolio invested 15 percent each in A and B and 70 percent in C?(Do not round intermediate calculations and round your answer to 6 decimal places, e.g.,.161616

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