Here are the percentage returns on two stocks.

Month	Digital Cheese				Executive Fruit
January		17 %				7%
February		3				1
March		5				5
April		7				13
May		4				2
June		3				5
July		2				4
August		8				2

a-1. Calculate the monthly variance and standard deviation of each stock. (Do not round intermediate calculations. Round your answers to 1 decimal places.)

	Digital Cheese	Executive Fruit
Variance
Standard deviation %

a-2. Which stock is the riskier if held on its own? -Multiple choice

1. Digital Cheese

2. Executive Fruit

b. Now calculate the variance and standard deviation of the returns on a portfolio that invests an equal amount each month in the two stocks. (Do not round intermediate calculations. Round your answers to 1 decimal places.)

Variance
Standard deviation %

c. Is the variance more or less than half way between the variance of the two individual stocks? Multiple choice

1) more than the 50%-50%

2) less than the 50%-50%