Please use step by step calculations, avoid excel.

I have calculated the expected value of the stock 1= 7,5%, expected value of stock 2=10,5% and expected value of portfolio = 9 %. This is correct accordingly to the answer key. Accordingly to the answer key the portfolio risk is 8,67%...help me find the answer!!

Consider Stock 1 and Stock 2 and assume for the next three questions that the probability distribution of the rates of return on the two stocks in each of three scenarios is as follows: Bullish Stock Market Bearish Stock Market Nonsystematic Crisis Probability 0.3 Return on Stock 1 10% -5% 20% Return on Stock 2 25% 10% -25% 0.5 0.2 7. If a portfolio is equally-weighted between the two stocks, calculate the expected return and volatility (i.e. standard deviation) of the portfolio. Calculate the volatility from the portfolio returns in each scenario