Question 1 (20 points) Consider an investor's choice of a farm unit in the Corn Belt, one in the California Central Valley, or the one in the Great Plains region. An investor added these three assets in one portfolio. The portfolio composed of equal proportions of the three investments. Use the information in the table below to answer the questions that follows (show all your work for partial credits). Investment Alternatives Corn Belt (1) Central Valley (2) Great Plains (3) Exp. Return T=0.14 12-0.12 r3=0.07 Std. Dev. 01-0.08 02-0.05 3=0.01 Weight in Portfolio W 0.3 W2=0.4 W3=0.3 Correlation Among Investment 1 and 2 (P12) 0.30 1 and 3 (p13) -0.40 2 and 3 (p23)=0.50 Portfolio Data for Financial Servicing Analysis Under Risk a. Calculate the expected return of the portfolio. (3 points) b. Calculate the variance and the standard deviation of the portfolio. (4 points)