State	Prob. of state	S&P 500	Technology	T-bill	Gold Funds
+ 1% GDP	.25	8%	-20%	5%	40%
+ 2% GDP	.50	12%	20%	5%	20%
+ 3% GDP	.25	16%	60%	5%	0%

5)

A. What would you expect the Betas of the S&P 500 fund and the T BIll fund to be?

B. If you figure the Betas of Technology and Gold Funds to be 1.6 and 1.7, what would be the required return of an equally-weighted portfolio of Technology, T Bills, and Gold Funds (Use the expected returns of the market and risk-free security from part 4 in your computation)?