• The following table summarizes the annual returns you would have made on two companies Scientific Atlanta, a satellite and date equipment manufacturer and AT&T, the telecom giant from 1988 to 1998.

Year	Scientific Atlanta (%)	AT&T (%)
1989	80.95	58.26
1990	-47.37	-33.79
1991	31	29.88
1992	132.44	30.35
1993	32.02	2.94
1994	25.37	-4.29
1995	-28.57	28.86
1996	0.00	-6.36
1997	11.67	48.64
1998	36.19	23.55

• A) Estimate the average and standard deviation in annual returns in each company.
• B) Estimate the covariance and correlation in returns between the two companies
• C) Estimate the variance of a portfolio composed, in equal parts, of the two investments.