Date	Qantas Airways Limited (QAN.AX)	Singapore Airlines Limited (C6L.SI)	Cathay Pacific Airlines (0293.HK)
1/3/2021	5	5.24	7.29
2/3/2021	4.89	5.18	7.4
3/3/2021	5.03	5.21	7.41
4/3/2021	5.08	5.15	7.46
5/3/2021	5.1	5.15	7.41
8/3/2021	5.02	5.15	7
9/3/2021	5.14	5.31	7.1
10/3/2021	5.17	5.22	7.06
11/3/2021	5.3	5.32	7.39
12/3/2021	5.3	5.3	7.36
15/3/2021	5.5	5.63	7.56
16/3/2021	5.48	5.66	7.56
17/3/2021	5.45	5.67	7.71
18/3/2021	5.41	5.71	7.89
19/3/2021	5.35	5.7	7.62
22/3/2021	5.33	5.68	7.63
23/3/2021	5.21	5.64	7.25
24/3/2021	5.13	5.53	6.91
25/3/2021	5.11	5.59	7.09
26/3/2021	5.11	5.54	7.2
29/3/2021	5.07	5.55	7.21
30/3/2021	5	5.61	7.32
31/3/2021	5.09	5.55	7.25
1/4/2021	5.1	5.59	7.24
6/4/2021	5.26	5.59	7.23
7/4/2021	5.4	5.64	7.23
8/4/2021	5.42	5.7	7.1
9/4/2021	5.45	5.69	7.06
12/4/2021	5.32	5.72	7.07
13/4/2021	5.27	5.6	7.08
14/4/2021	5.21	5.53	7.02
15/4/2021	5.2	5.5	7.15
16/4/2021	5.18	5.34	7.13
19/4/2021	5.08	5.4	7.09
20/4/2021	5.01	5.23	6.94
21/4/2021	4.94	5.08	7
22/4/2021	5.01	4.99	6.9
23/4/2021	4.99	5.05	7.07
26/4/2021	4.93	5.03	7.1
27/4/2021	4.9	5.13	6.98
28/4/2021	4.97	5.3	6.93
29/4/2021	5	5.15	6.85
30/4/2021	4.95	5.13	6.7
3/5/2021	4.94	5.06	6.79
4/5/2021	4.93	4.95	6.67
5/5/2021	4.81	4.97	6.53
6/5/2021	4.74	4.82	6.51
7/5/2021	4.77	4.84	6.63
10/5/2021	4.71	4.95	6.62
11/5/2021	4.66	4.87	6.42
12/5/2021	4.5	4.8	6.4
13/5/2021	4.4	4.77	6.42
14/5/2021	4.45	4.5	6.39
17/5/2021	4.55	4.64	6.51
18/5/2021	4.6	4.86	6.52
19/5/2021	4.52	4.7	6.57
20/5/2021	4.68	4.76	6.63
21/5/2021	4.74	4.77	6.68
24/5/2021	4.72	4.74	6.77
25/5/2021	4.71	4.86	6.79
26/5/2021	4.67	4.96	6.77
27/5/2021	4.69	4.96	6.68
28/5/2021	4.81	4.98	6.65
31/5/2021	4.71	4.99	6.79
1/6/2021	4.71	4.95	6.8
2/6/2021	4.79	4.93	6.79
3/6/2021	4.91	4.9	6.76
4/6/2021	4.87	4.88	6.87
7/6/2021	4.78	4.9	6.94
8/6/2021	4.84	5.02	7.06
9/6/2021	4.81	5.12	7.07
10/6/2021	4.77	5.15	6.99
11/6/2021	4.71	5.13	6.87
15/6/2021	4.72	5.08	6.88
16/6/2021	4.72	4.92	6.93
17/6/2021	4.71	4.99	7.09
18/6/2021	4.85	5.05	6.93
21/6/2021	4.67	4.98	6.91
22/6/2021	4.73	4.98	6.86
23/6/2021	4.72	5.02	6.81

e. (4 marks) Suppose that you invest 20% in Singapore Airlines Limited, 50% in Qantas Airways Limited and 30% in Cathay Pacific Airlines. Calculate the portfolio expected return, variance and standard deviation. f. (4 marks) How does the expected return and standard deviation change if you decide to invest 30% in Singapore Airlines Limited, 60% in Qantas Airways Limited, and 10% in Cathay Pacific Airlines? Explain your answers. g. (5 marks) Find the weights of Singapore Airlines Limited, Qantas Airways Limited and Cathay Pacific Airlines that will provide a daily return of 0.01% with the lowest level of risk. h. (5 marks) Plot a scatter diagram showing the portfolios from parts (e), (f) and (g), with the X-axis displaying standard deviation and the Y-axis displaying daily returns. i. (4 marks) If the daily risk-free rate is 0.1%, estimate the Sharpe ratio for the portfolios mentioned in parts (e), (f) and (g) and highlight the highest Sharpe ratio using conditional formatting.