Here are the percentage returns on two stocks.

Month	Digital Cheese	Executive Fruit
January	16%	8%
February	3	1
March	5	3
April	7	13
May	4	2
June	3	5
July	2	6
August	8	4

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

a-2. Which stock is the riskier if held on its own? 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.) c. Is the variance more or less than half way between the variance of the two individual stocks?