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Please provide explanation and process thank you! 6. Assume that the average variance of return for an individual security is 50 and that the average

Please provide explanation and process thank you!
6. Assume that the average variance of return for an individual security is 50 and that the average covariance is 10. What is the expected variance of an equally weighted portfolio of 5, 10, 20, 50 and 100 securities? (Hint: use the risk reduction formula in the lecture note.)

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