The gap between is just the page split, all the relevant information has been uploaded. Let me know what is unclear!

3. (Bounds on relurns) Consider a universe oi jusi three securitics They havc expeced 1 ates of return o! 10%, 20%, and 10% respectively Two portfolios are known to lie on THlE CAP!TAL ASSET PRICING MODEL fhe mininm-variance se They e defined by lhe portfolio weights 60 1 807 20 40 lt is also known that the market portfolio is eficient (a) Given this nomton, wha are ihe mininum and maximum possible values for the expecied rae o reurn on the markei porifolio? are told b) Now suppose you w represents the minimum-vaiance portfolio Does this change your answers lo pTt (a)