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	.73	.11	.05	.31
Bust	.27	.20	.26	.11

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., 32.16.

What is the variance of a portfolio invested 28 percent each in A and B and 44 percent in C?

Note: Do not round intermediate calculations and round your answer to 5 decimal places, e.g., .16161.