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 $0\mathrm{.}550\mathrm{.}060\mathrm{.}140\mathrm{.}34$

Bust $0\mathrm{.}450\mathrm{.}100\mathrm{.}020\mathrm{.}07$

a$.$ What is the expected return on an equally weighted portfolio of these three stocks? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Expected return $\%$

b$.$ What is the variance of a portfolio invested $25\%$ each in A and B and $50\%$ in C$?($Do not round intermediate calculations. Round the final answer to $6$ decimal places.$)$

Variance