Market portfolio X, risky asset Y and risk-free asset Z are in the typical financial market. We have the following condition: E[X]=12%,SD[X]=20%,SD[Y]=40%,Y=1.rf=4%. A portfolio with 50% in asset Y and 50% in Z will be denoted as asset P. (a) Compute the expected return of asset Y and its covariances with market portfolio asset X and risk-free asset Z, respectively. (b) Consider a portfolio with weight w in asset X and 1-w in asset Y. Compute the expected return and return standard deviation of the portfolio with w being 0,0.5, and 1 , respectively. (c) which portfolios in question (b) do you like? Explain. (d) Compute the return standard deviation and expected return of asset P. (e) Can you compose a portfolio of assets X and Z such that its return standard deviation is the same as that of asset P ? What is the expected return of this portfolio? (f) Are assets X,Y and Z efficient portfolios? How do you define efficiency in your words? Explain