Refer the table below on the average excess return of the Canadian equity market and the standard deviation of that excess return. Suppose that the Canadian market is your risky portfolio.

	Average Annual Returns					Canadian Equity Market
Period	Canadian Equity Market		1-Month T-Bills			Excess Return		Standard Deviation		Sharpe Ratio
19572016	10.76		6.02			4.74		18.60		0.25
19571970	8.80		4.56			4.24		16.69		0.25
19711984	13.37		9.69			3.68		2.61		1.41
19851998	11.47		7.91			3.56		14.21		0.25
19992016	9.41		1.92			7.49		24.56		0.30

Average annual return on stocks and 1-month T-bills (Standard deviation and Sharpe ratio of stocks over time)

a. If your risk-aversion coefficient is A = 3.7 and you believe that the entire 19572016 period is representative of future expected performance, what fraction of your portfolio should be allocated to T-bills and what fraction to equity? Assume your utility function is U= E(r) 0.5 A². (Do not round intermediate calculations. Round your answers to 2 decimal places.)

T-bills		%
Equity		%

b. If your risk-aversion coefficient is A = 3.7 and you believe that the entire 19992016 period is representative of future expected performance, what fraction of your portfolio should be allocated to T-bills and what fraction to equity? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

T-bills		%
Equity		%