Suppose that the average stock has a volatility of $50\%50\%,$ and that the correlation between pairs of stocks is $17\%17\%.$ Estimate the volatility of an equally weighted portfolio$$ with:

a$.11$ stock

b$.3030$ stocks

c$.1$ comma $0001,000$ stocks

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Part $1$

a$.$ The volatility of an equally weighted portfolio with $11$ stock is enter your response here$\%.($Round to two decimal$$ places.$)$