Marke 15.00 Not yet rowered stion 20 here are three states of economy and you are given the following probabies to ou invest 65% in stock X and 35% in stock Y. The betas for each stock are also pronto State of Probability of Returns to State of Economy Economy Stockx Tad Boom 25% Normal 50% 10% Recession 25% SX Stock Ponfolio Weights Beta X 65% 1.05 Y 35% 0.70 a. Calculate the expected return of the portfolio b. Calculate the standard deviation of the portfolio. c. Is the systemic risk of the portfolio is more or less than the market? Please explain why, Please show all your calculations to gain partial points