Consider the following information:

$\backslash$table$[[,$Probability of State,Rate of Return if State Occurs$],[$of Economy,Stock A$,$Stock B$,$Stock C$,],[$Boom$,\mathrm{.}62,\mathrm{.}09,\mathrm{.}17,\mathrm{.}35],[$Bust$,\mathrm{.}38,\mathrm{.}20,\mathrm{.}10,-\mathrm{.}06]]$

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$.,32\mathrm{.}16.)$

b$.$ What is the variance of a portfolio invested $16$ percent each in A and $B$ and $68$ percent in C$?($Do not round intermediate calculations and round your answer to $6$ decimal places, e$.$g$.,\mathrm{.}161616.)$

a$.$ Expected return

b$.$ Variance