Here are the percentage returns on two stocks.

Month	Digital Cheese				Executive Fruit
January		15	%			9	%
February		4				2
March		5				5
April		7				15
May		5				1
June		3				5
July		3				3
August		5				1

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.)

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