Sophia is considering investing her money in Stock Pop and Stock Jazz. The current market price of Jazz today is RM 7.50. The share price of Jazz is expected to be RM 6 next year if the economy is in recession, RM 8.25 if the economy is normal and RM 9 if the economy is expanding. The chances of the economy being in recession, normal and expanding are 0.1, 0.8, and 0.1 respectively. Stock Jazz does not pay any dividend. Other relevant data is as follows:

Standard deviation of returns of the market portfolio: 0.10

Standard deviation of returns of Stock Pop : 0.12

Expected return on Stock Pop : 0.09

The correlation of stock Jazz and the market : 0.80

The correlation of Stock pop and the market: 0.10

The correlation of Stock Pop and Stock Jazz: 0.60

a) Calculate the expected return and standard deviation of returns for Stock Jazz

b) Determine the expected return and standard deviation of a portfolio consisting of 60% Stock Jazz and 40% Stock Pop.