Consider the following information:

$\backslash$table$[[$State of$,\backslash$table$[[$Probability of$],[$State of$]],$Rate of$,$Return if state,Occurs$],[$Economy$,$Economy,Stock A$,$Stock B$,$Stock C$],[$Boom$,0\mathrm{.}55,0\mathrm{.}06,0\mathrm{.}14,0\mathrm{.}34],[$Bust$,0\mathrm{.}45,0\mathrm{.}10,0\mathrm{.}02,-0\mathrm{.}07]]$

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

$10\mathrm{.}65$

$\%$

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