Consider the information for assets A, B and C below

State	Probability	Return on A	Return on B	Return on C
Boom	0.2	0.3	0.05	0.1
Average	0.4	0.2	0.15	0.25
Bust	0.4	0.1	0.2	0.3

1.Find the mean of Asset A, the mean of Asset C , the standard deviation of Asset A, the standard deviation of Asset C, and the covariance of assets A and C. (each part is worth 5 points).

2.Consider Portfolio (Y) comprising 60 % Asset A and 40% Asset C. What is the variance of portfolio Y?