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James owns a two$-$stock portfolio that invests in Falcon Freight Company $($FF$)$ and Pheasant Pharmaceuticals $($PP$).$ Three$-$quarters of James's portfolio value consists of FF$\text{'}$s shares, and the balance consists of PP$\text{'}$s shares.

Each stock's expected return for the next year will depend on forecasted market conditions. The expected returns from the stocks in different market conditions are detailed in the following table:

$\backslash$table$[[$Market Condition,Probability of Occurrence,Falcon Freight,Pheasant Pharmaceuticals$],[$Strong$,0\mathrm{.}50,20\%,28\%$