Describe the relation between Risk and Returns that was introduced by Harry Markowitz.

$(2$ marks$)$

$($b$)$ Azreen plans to form an investment portfolio that comprised of $50$ percent investment in Share X$,25$ percent investment in Share Y and $25$ percent in Share Z

The following are the estimated returns for all the three types of financial assets:

Year

Probability $($P$)$

Expected Return $(\%)$ of Financial Assets

Y

Z

Strong

$0\mathrm{.}48$

$10$

$15$

$20$

Weak

$0\mathrm{.}52$

$10$

$6$

$1$