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 $0\mathrm{.}560\mathrm{.}130\mathrm{.}210\mathrm{.}39$

Bust $0\mathrm{.}440\mathrm{.}150\mathrm{.}040\mathrm{.}07$

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

$15$

$\%$

b$.$ What is the variance of a portfolio invested $20\%$ each in A and B and $60\%$ in C$?($Do not round intermediate calculations. Round the final answer to $6$ decimal places.$)$

Variance