State of	Probability of
Economy	State of Economy			Stock A			Stock B			Stock C
Boom		0.60			0.09			0.18			0.36
Bust		0.40			0.15			0.07		?	0.05

a.	What is the expected return on an equally weighted portfolio of these three stocks? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Expected return

%

b.	What is the variance of a portfolio invested 15 percent each in A and B and 70 percent in C? (Do not round intermediate calculations and round your answer to 6 decimal places. (e.g., 32.161616))