The expected returns and standard deviation of returns for two securities are as follows: Security Z Security Y Expected Return 15% 35% Standard Deviation 20% 40% The correlation between the returns is +0.25. (a) Calculate the expected return and standard deviation for the following portfolios: 1. All in Z 2. 0.75 in Z and .25 in Y 3. 0.5 in Z and .5 in Y 4. 0.25 in Z and .75 in Y 5. All in Y (b) Draw the mean-standard deviation frontier. (c) Which portfolios might be held by an investor who likes high mean and low standard deviation? (In other words, which portfolios are on the efficient frontier?)