Here are the percentage returns on two stocks. Month Digital Cheese Executive Fruit January 17 % 9 % February 3 1 March 5 5 April 6 14 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.)

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.)