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 $\mathrm{.}68\mathrm{.}11\mathrm{.}05\mathrm{.}36$

Bust $\mathrm{.}32\mathrm{.}25\mathrm{.}31\mathrm{.}16$

$1.$ What is the expected return on an equally weighted portfolio of these three stocks?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

$2.$ What is the variance of a portfolio invested $23$ percent each in A and B and $54$ percent in C$?$

Note: Do not round intermediate calculations and round your answer to $5$ decimal places, e$.$g$.,\mathrm{.}16161.$